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PS - Boom gone bust: Production plummets, DUCs build - June 2020
From last November to May, US oil production fell by 1.5 MMbo/d to 11.4 MMbo/d as operators reduced D&C operations amid oil price uncertainty and a price shock, according to the EIA. The agency forecasts that US output will continue to decline to 10.6 MMbo/d by March 2021, before increasing for the remainder of 2021. Operators have announced significant curtailments in May and June as producers grapple with sub- $40 pricing, driven by coronavirus-related......
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