Wednesday, July 22, 2020
U.S. crude oil and natural gas production declined in April 2020 by 670,000 bbld and 2.6 Bcfd, respectively, according to the U.S. Energy Information Administration’s (EIA) Monthly Crude Oil and Natural Gas Production Report. Production contractions of that size usually happen only in natural disasters such as hurricanes: the drop in U.S. crude oil production in April was the largest since September 2008 when Hurricanes Gustav and Ike caused production to tumble by 1.03 MMbbld.