We’re projected to hit a new global production record this year.

I used to work in the shale industry so I know how it works. Yes it’s more intensive but breakevens for fracked wells are down to what breakevens for conventional wells were 20-30 years ago. They have superior technology and processes now that are only getting better, more efficient, and cheaper. There is a lot of money at stake and a ton of very smart people working on this stuff.

That looks like a pretty constant upward trend that just juked due to COVID and a lack of more recent data.