據油價網報道，摩根大通銀行3月12日表示，如果油價維持在當前水平，目前的油價足以保證美國頁巖活動在今年下半年增加。

摩根大通銀行分析師在由路透社報道的每周報告中說，“在當前的價格，大多數美國本土運營商是有利可圖的，這使得從大型上市公司到私人運營商的一大批運營商處于有利地位，可以在今年下半年增加業務，并在2022年為更高的業務量建立堅實的勢頭。”

3月12日早間，美國基準西德克薩斯中質原油現貨價格超過每桶65美元，截止美國東部時間上午7點，為每桶65.76美元。

在美國原油產量在去年出現有史以來最大的年度下降以后，美國頁巖部門并不急于在今年增加產量，盡管今年油價上漲了30%。美國生產商，尤其是大型上市石油公司預計將堅持資本紀律，獎勵股東，而不是提高產量。然而，規模較小的私營石油公司正受益于油價上漲，因為它們賺取現金的主要方式是增加產量。這可能會再次破壞歐佩克+的石油管理政策。

多數分析師認為，大多數上市石油公司將遵守資本紀律。歐佩克+集團似乎還押注于這樣的預期：美國頁巖這回將尋求更高的利潤，而不是產量——不同于近幾年來的任何一次油價飆升——除了俄羅斯和哈薩克斯坦的小幅增加產量以外，歐佩克+集團決定從4月份起不提高產量。

鑒于最近的高油價，摩根大通銀行預計美國今年的平均石油日產量將達到1136萬桶，略高于去年的1132萬桶。

美國能源信息署（EIA）仍認為今年美國石油日產量將比去年略有下降，為1110萬桶。然而，在本周發布的最新短期能源展望（STEO）報告中，由于原油價格預期將上漲，EIA預計美國明年的石油日產量為1200萬桶，比其2月STEO報告中的預測增加50萬桶。

李峻 編譯自 油價網

原文如下：

JP Morgan: U.S. Shale Production Set To Climb

Current oil prices are high enough to warrant increased U.S. shale activity in the second half of the year if prices hold around these levels, according to JP Morgan.

“At current prices, most U.S. onshore operators are economic, leaving a vast group of operators, from large public companies to private players, in good position to ramp up activity in 2H21 and build solid momentum for higher volumes in 2022,” analysts at JP Morgan said in a weekly note as carried by Reuters.

Early on Friday, the spot U.S. benchmark WTI Crude was trading at over $65 per barrel, at $65.76 as of 7 a.m. ET.

Following the largest ever annual collapse in U.S. crude oil production in 2020, the U.S. shale patch is not rushing to ramp up production in 2021, even though oil prices have rallied by 30 percent this year. U.S. producers, especially large listed companies, are expected to stick to capital discipline and reward shareholders rather than ramp up production. However, smaller privately held oil firms are benefiting from higher oil prices as their primary way of generating cash is increased production. This could spoil the oil management policy of the OPEC+ group again.

Most analysts believe that most public companies will stick to discipline. OPEC+ also seems to have gambled on expectations that U.S. shale will look at higher profits instead of production this time - unlike in any of the previous oil price spikes in recent years - when it decided not to raise production from April, except for small increases for Russia and Kazakhstan.

In view of the recent high prices, JP Morgan now expects U.S. oil production to average 11.36 million bpd in 2021, slightly up from 11.32 million bpd last year.

The EIA still sees U.S. crude oil production this year slightly down from last year, at 11.1 million bpd. However, in its latest Short-Term Energy Outlook published this week, EIA expects U.S. production in 2022 at 12.0 million bpd, up by 500,000 bpd compared to the February STEO forecast because of higher expected crude oil prices.