U.S. Shale Oil Investment Surges More Than 50% in 2017, IEA says

Market Watch | Sara Sjolin

The rise in US oil investments is anticipated to give global upstream spending a boost throughout the rest of 2017.

After two years of significant declines in upstream oil investments, the sector is finally facing a rebound in 2017 and it all comes down to one thing: A sharp jump in money flowing into U.S. shale oil projects.

In a report out on Tuesday, the International Energy Agency predicts a 53% upswing in shale investments this year, even as oil prices are struggling to make a sustainable push above $50 a barrel.

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