Wednesday, May 20, 2020
The COVID-19 pandemic has forced oil and gas producers to slash budgets and reduce drilling activity, which in the U.S. always affects future hydrocarbon output as existing fields naturally decline. Operators also shut some producing oil fields, halting in turn their associated gas output. Rystad Energy estimates that U.S. gas production (Lower 48 States excl. Gulf of Mexico) will reach its lowest point in November, at 82.5 billion cubic feet per day (Bcfd) before a gradual slow recovery begins in 2021.
