Oil is rising in spite of growing U.S. production. Shale output is “short-cycle”, making it less risky. As capex flows to North America, it’s limiting investment elsewhere in conventional projects. By Simon Lack Could the Shale Revolution be driving oil prices higher? It seems counter-intuitive – the U.S. is on course to be the world’s biggest oil producer by next year. And it was the additional shale supply that led to the 2014-2015 oil collapse. Yet, a growing chorus of industry voices is warning of an impending supply squeeze. This includes the Saudi Energy Minister, Khalid A. Al-Falih , who recently expressed concern about shortages of spare crude oil capacity. Last week, David Demshur, CEO of oilfield services company Core Laboratories (NYSE: CLB ) forecast oil at $100 a barrel. He cited declining output in many key conventional plays globally, even while U.S. output is growing strongly. The […]