BREAKINGVIEWS-US oil’s wildcat tendencies sputter out

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, June 25 (Reuters Breakingviews) - Shale companies can drill wells quickly when prices spike. Yet when Iran presented the opportunity, they chose profit over ramping US production above 14 mln barrels a day. Exxon and Chevron revealed preferences for grinding out asset values from a mature industry.

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CONTEXT NEWS

The price of West Texas Intermediate, an oil industry benchmark, on June 25 was just under $71 a barrel for August delivery. It had been less than $60 at the start of 2026, but peaked at more than $112, following U.S. and Israeli attacks on Iran.


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