A fracking boom made the US the world's biggest oil producer. Now its end is pushing gas prices much higher.
. Prices are even higher in the most populous states, with Californians forced to pay an average $6.39 a gallon.
"I don't think OPEC has to worry that much more about US shale growth long term," he said, adding that the firm"will be more cautious" through 2025. The uptrend has also been a bumpy one, as producers have been wary not to repeat the growth spree of the 2010s. Investors haveover faster pumping, saying firms need to pay down debts from the prior boom. That's led to producers' free cash flow soaring amid rising prices, a typical sign that the industry is leaving cash on the table and needs to accelerate investment.
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