US oil production slashed further

US oil production slashed further

The US Energy Information Administration, in its latest short-term energy outlook, has cut its forecast of oil production by the end of 2020 for the fourth straight month. It now expects output to rise by just 370,000 bpd over the course of next year. This is the slowest growth in four years. At the same time, the number of rigs drilling for oil in the US has fallen in each of the last 10 months.

KCooper
KCooper
Captain Fighter
Captain Fighter 4 months

This is mostly a good thing, with less oil we could invest more in other forms of energy production that are a hell of a lot cleaner, and I don't mean Wind Turbines and Solar Panels, I'm talking about nuclear energy. But I can also see how this would be bad for the energy economy.

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