Guangda Securities: The slowdown in the increase of US shale oil production is expected to partially offset the impact of the global increase in crude oil supply.

Guangda Securities released a research report stating that OPEC+ announced at the beginning of May that crude oil production in June will increase by 411,000 barrels per day for the second consecutive month. However, considering the possibility of a compensation agreement for overproduction, the actual increase in production may be lower than planned. At the latest financial reports conference call, US independent shale oil producers stated that they will reduce the number of drilling rigs and lower their capital expenditure expectations for 2025 by 9%. The slowdown in US shale oil production is expected to partially offset the impact of global crude oil supply growth, and future attention is still needed on the implementation of OPEC+ production increases.