26 Sep, 23

OPEC+ Cuts Offset By Booming U.S. Oil Production

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Despite the fact that U.S. oil producers are now deploying the lowest number of drilling rigs in more than a year and a half, America’s crude oil production is set to hit a monthly record in September—at 13 million barrels per day (bpd), according to estimates by Rystad Energy. Production growth has slowed due to the discipline U.S. shale producers have shown in the past two years, but a slower increase still means that output is headed higher, the energy research firm says, as carried by The Wall Street Journal.   The expected…

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