So close and yet so far. Permian shale production now back to just 25,000 barrels per day from the pre-pandemic peak. Unfortunately, the other shale plays barely show signs of life.
Oil
Oil
Monday, September 13, 2021
Missed it by that much! Permian crude production back to only 84,000 barrels per day below the pre-pandemic peak at almost 5 million!
Oil
Monday, August 16, 2021
The smaller shale plays struggle to build back better -- or at all. But praise the mighty Permian, now just 93,000 barrels per day away from matching the all-time highs.
Oil
Monday, July 12, 2021
World crude consumption breaks out of a 6-month consolidation to new recovery highs, led by record gasoline consumption in the US, and sharp improvement in emerging markets.
Oil
Monday, June 14, 2021
The mighty Permian shale play is now a mere 220,000 barrels per day off pre-pandemic production levels (with only about half as many rigs!).
Oil
Monday, May 17, 2021
The "fracklog" continues to work down. Shale production is flat (new recovery highs in the Permian offset declines everywhere else). More than 200 drilled-but-uncompleted wells get completed, while only 10 more rigs are deployed.
Oil
Monday, March 15, 2021
The hard-stop in Permian production during the Texas freeze was worse than the pandemic -- but a recovery already, and a huge upgrade to the US forecast.
Oil
Tuesday, February 16, 2021
No wonder oil prices are back to pre-pandemic levels, even with demand still off the prior highs. US production has only regained about a third of what was lost last year.