for 3rd quarter, 2021 Brent prices to $80 on Friday morning. “Key will be the potential shale supply response, although the latest earnings season suggests investors are still a long way away from rewarding growth,” the bank said. It simultaneously raised its forecast for 2022 U.S. shale production by 300,000 barrels per day.
Let’s all remember that the U.S. shale industry boomed like never before throughout 2018 and 2019, a time during which WTI traded in a range of $53 to no higher than $72 per barrel.
The U.S. Energy Information Administration reports that domestic oil production for December was roughly 11.06 million barrels of oil per day, about 1.8 million barrels below the peak seen in November, 2019. It is interesting to note that the domestic industry was able to hold production levels relatively stable throughout the second half of 2020 despite running a very low number of active drilling rigs.
so, is Forbes really that dense? People don't travel due to Covid restrictions for close to a year. Then, as things improve, they resume. This is neither a decline nor a boom. It has nothing to do with any change in technology. What a waste. Find something real to write about.
Fuel is more expensive thanks to Beijing B, what are you talking about?
this is terrible news
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