MOSCOW, 15 Sep — PRIME. US shale oil companies are warning that they will not be able to increase energy supplies to Europe to prevent a winter energy crisis, the Financial Times newspaper writes, citing corporate heads.
The US shale industry has warned it will not be able to save Europe by boosting oil and gas supplies this winter amid fears that falling Russian exports will send oil prices back above $100 a barrel. .
According to the head of private equity group Quantum Energy Partners, one of the largest investors in the shale area, Wil Van Loh, the US will not be able to increase oil production. “There will be no help,” he stressed.
The US has boosted oil and liquefied gas exports to take advantage of higher prices in Europe, but now exports are close to their peak, executives also said, warning that oil production growth will fall short of government forecasts at about a million barrels a day this year.
The manager of one of the largest oil producers in the US, Sheffield, noted that companies do not increase the number of drilling rigs. He added that this winter oil prices may rise above $120 per barrel due to reduced supplies to the world market.
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