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Mid-Year Forecast: U.S. to see uptick as crude prices climb, demand recovers

Despite analysts’ dire predictions about Covid-19’s short-term/long-term effects on the industry, demand and oil prices recovered significantly in second-and-third-quarter 2021. Even with consistently higher oil prices, U.S. operators showed uncharacteristic restraint, focusing on debt reduction and shrinking the DUC backlog rather than new drilling.
United States Eagle Ford Cove Point Rocky Mountains New Mexico West Virginia

U.S. to see uptick as crude prices climb, demand recovers

Despite analysts’ dire predictions about Covid-19’s short-term/long-term effects on the industry, demand and oil prices recovered significantly in second-and-third-quarter 2021. Even with consistently higher oil prices, U.S. operators showed uncharacteristic restraint, focusing on debt reduction and shrinking the DUC backlog rather than new drilling.
United States Eagle Ford Cove Point Rocky Mountains New Mexico West Virginia

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