U.S. Shale Fracklog Triples as Drillers Keep Oil From Market
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Think the U.S. is awash in crude now? Thank the fracklog that it’s not worse.
Drillers in oil and gas fields from Texas to Pennsylvania have yet to turn on the spigots at 4,731 wells they’ve drilled, keeping 322,000 barrels a day underground, a Bloomberg Intelligence analysis shows. That’s almost as much as OPEC member Libya has been pumping this year.