February 1, 2018 / 10:52 AM / 4 months ago

Shell sees U.S. shale producers' "rational behavior" helping oil price

LONDON (Reuters) - U.S. shale oil producers have stopped chasing record production numbers and have become more focused on profitability, meaning this “rational behavior” is helping to prop up oil prices, Royal Dutch/Shell’s Chief Executive Ben van Beurden said on Thursday.

The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle

The company’s Chief Financial Officer Jessica Uhl told the same news conference Shell could easily double production from shale assets in the United States, Canada and Argentina in the next 5-10 years from the current 275,000 barrels per day.

Reporting by Ron Bousso and Dmitry Zhdannikov; Editing by Adrian Croft

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