U.S. benchmark oil prices are up almost 50% this year, as global demand continues its pandemic recovery. In the States, rising demand and rising prices have led to production increases - but only modest increases so far. This week, Switched On speaks with Tai Liu and Anna Dialynas, U.S. oil analysts for BloombergNEF. They will tell us us about how most U.S. oil producers are choosing fiscal discipline over major production increases, and opting for debt reductions and shareholder paybacks over drilling new wells.

This episode is based on a report titled U.S. Shale Oil Quarterly Outlook: 3Q 2021. BNEF clients can access this at BNEF on the Bloomberg Terminal, on bnef.com or BNEF Mobile.

See omnystudio.com/listener for privacy information.