Crude oil production in seven major regions in U.S. is expected to fall to levels not seen since 2018 as operators respond to the price collapse and oversupply. Led by declines in Permian Basin, production next month is expected to fall by 197,000 barrels per day to 7.822 million b/d, according to U.S. Energy Information […]
Production of oil, gas to decline in each of seven major regions in May
U.S. Department of Energy forecasts declining production for both crude oil and natural gas in each of the seven major regions in May as supply continues to outpace demand and storage capacity amid the global coronavirus pandemic. Oil production is expected to decline by 183,000 barrels per day in May compared to April to 8.526 […]