Soaring oil prices put US shale in a bind

 US and European shares rallied on Tuesday after Russia said it had begun pulling back some troops, and former Google chief executive, Eric Schmidt, is creating a $125mn fund to address problems with artificial intelligence. Plus, the FT’s US energy editor, Derek Brower, explains that US shale companies are feeling pressured to produce less oil despite rising prices. Mentioned in this podcast:US stocks rise after Russia says some troops returning to baseOil’s climb towards $100 a barrel tempts US shale companies to shed restraintEric Schmidt creates $125mn fund for ‘hard problems’ in AI researchThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.