HOUSTON, May 9 (Reuters) - U.S. shale producers will not boost output to offset any global oil squeeze after President Donald Trump abandoned the Iran nuclear deal, one of the industry’s most prominent executives said on Wednesday.

U.S. shale producers, which in the past year have increased output by nearly 2 million bpd, to about 7 million bpd, are not likely to act to fill that void should Iranian exports slip, said Mark Papa, chief executive of Centennial Resource Development Inc.

 

 

Many U.S. shale producers have set their 2018 spending budgets and are wary of boosting spending to pump more as their shareholders call for higher dividends and share buybacks.

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