A plateauing shale boom in the US is pushing domestic firms to seek opportunities in new markets such as Australia and Venezuela in a bid to boost crude production.
Beginning in the early 2000s, hydraulic fracking helped make the US the world’s biggest producer of oil and gas, reducing its dependence on imports. However, growth appears to be slowing: The US Energy Information Administration predicted output will flatten this year and fall in 2027.
Though US President Donald Trump has vowed to expand domestic capacity, falling oil prices and rising costs mean producers will struggle to break even, while the logistical challenges for shale drillers operating abroad remain substantial.
