U.S. oil production remains near record high: Kemp

Financial Post | Sep 13, 2019 at 12:27 PM
  • U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020.
  • Crude output averaged 12.1 million barrels per day (bpd) in June, essentially unchanged from record levels in May and April.
  • As the fall in prices since the fourth quarter of 2018 works it way through to lower drilling and completion rates, production growth should moderate towards the end of 2019 and especially in 2020.