EIA cuts US 2020 crude production estimate to 11.76 mbpd from 12.99 mbpd

Author: Adam Button | Category: News

EIA lowers US oil production estimate

The US could argue that's a 10% cut but cutting because you're woefully uneconomic isn't the same as a voluntary cut.

In any case, the entire thing has turned into spin, threats and politics. I think the narrative that OPEC or Russia wants to crush shale is a false one. Shale is dead at $40 so it doesn't matter if they cut.

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