Shepherdson: Shale to Offset OPEC Consumer Price Hit

The transcript discusses the impact of OPEC's actions on US consumers, particularly in terms of oil prices. It highlights how a significant price hike could affect consumption in the short term. The discussion also covers the sensitivity of shale producers to oil price changes, leading to a potential increase in capital spending and a rebound in the US oil rig count. This rebound could offset the negative impact on consumers, as the oil industry is more responsive to price fluctuations now than in the past.

What factors contribute to the rebound in the US domestic rig count in the oil business?

How does a rise in capital spending (CapEx) affect consumers when oil prices increase?