April was the first full month of business and travel restrictions in place in the U.S. to fight the spread of the coronavirus, and the U.S. Energy Information Administration said this week crude oil production declined that month by the largest amount in more than a decade. The nation’s output was down by 670,000 barrels […]
Permian crude oil production expected to decline in July to 4.263 million b/d
Production of crude oil and natural gas in each of the seven major regions in the U.S. is forecast to decline in July, according to the latest drilling productivity report from U.S. Energy Information Administration. The June 15 report said oil production in Permian Basin is expected to fall by 7,000 b/d to 4.263 million […]
Production to slowly recover this fall, led by Permian and Gulf of Mexico
U.S. crude oil production will reach a low of about 10.7 million barrels per day in June – a two-year low – before starting to slowly recover, according to Oslo-based energy research firm Rystad Energy. After reaching 12.855 million b/d in March, U.S. monthly production is not likely to exceed 11.7 million b/d before 2022. […]