HOUSTON—U.S. shale producers are unlikely to replace banned Russian oil imports due to a shortage of oilfield materials, equipment, and labor and a dwindling backlog of wells waiting to be completed, energy executives and analysts said on Tuesday.
President Joe Biden imposed an immediate ban on Tuesday on Russian oil imports in retaliation for its invasion of Ukraine, putting a spotlight on shale producers’ ability to boost output to make up for the loss of about 200,000 barrels per day of Russian crude typically imported by domestic refiners.
