US oil output slumps by record one-third as Permian freezes1 min read . Updated: 17 Feb 2021, 05:11 AM IST
Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd., said the production losses were 'much higher than initial estimates' and warned that Permian output may not return to pre-freeze levels until Feb. 22
Total US oil production has plunged by one-third -- the most ever -- as an unprecedented cold blast freezes well operations across the central US, according to traders and industry executives with direct knowledge of the operations.
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