EOG Resources says oversupply, higher Venezuela output weighing on shale prices

Core Viewpoint - EOG Resources' finance chief Ann Janssen indicated that oversupply and potentially increased production from Venezuela are driving oil prices down, a trend expected to continue for several more quarters [1] Industry Summary - The oil market is currently experiencing oversupply, which is contributing to declining prices [1] - Increased production from Venezuela is anticipated, further exacerbating the oversupply situation [1] - The downward trend in oil prices is projected to persist for several more quarters, indicating a challenging environment for oil producers [1]