June 11, 2023 – Oil Price
Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained
By: Tsvetana Paraskova
Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues to restrict output, according to a top executive at the largest pure-play U.S. shale producer, Pioneer Natural Resources.
Higher labor and material costs are slowing U.S. shale production growth, Pioneers's Executive Vice President Beth McDonald told Reuters at RBN...