Rystad Energy analysts comment on oil prices and US crude output
Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, and its Head of Shale Research, Artem Abramov, have commented on today's oil prices and on US oil production respectively.
Special reports - 19 February 2021
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IHS Markit: Storm Uri may have cut US crude production by up to 4 million bpd
While precise crude oil production figures are not available, 20% of lower 48 US natural gas production has been shut-in in the first half of February. An equivalent 20% cut in lower 48 US crude oil production would imply a production drop of around 2 – 2.2 million bpd of output, but this could prove to be even higher – perhaps as high as 4 million bpd.