DENVER—U.S. shale producer Devon Energy on Wednesday said it was anticipating a 15 percent rise in costs this year compared to 2021 due to inflation and supply chain constraints.
U.S. oil prices have climbed to their highest levels in seven years, trading at nearly $95 a barrel, as activity has come roaring back amid a recovery in demand. However, many oil companies are being hit by shortages in labor and critical supplies such as sand, which has driven up their costs.
