U.S. oil production is expected to grow more slowly in 2020 and drop outright in...
NEW YORK - U.S. oil production is expected to grow more slowly in 2020 and drop outright in 2021, forecasters said this week after U.S. shale producers cut investment plans further when OPEC and Russia refused to steepen output cuts and prices plunged.
The sharp downturn in consumption sparked expectations that major oil producers would limit supplies to keep prices afloat and limit fallout from the virus. But Russia refused to support steeper oil output cuts called for by the Organization of the Petroleum Exporting Countries, and instead both former allies said they would raise production.
“This would be the first year-on-year decline in production since 2016,” EIA Administrator Linda Capuano said after the agency released its short-term energy outlook.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former 2020 Candidate Pete Buttigieg Is Guest-Hosting Jimmy Kimmel's Show: 'It's Going to Be Fun'Yes, that means Buttigieg will give a late-night monologue, too: 'Hopefully some funnier minds than mine will be doing some writing for that'
Read more »
Despite growing coronavirus fears in the US, 2020 candidates show no sign of slowingAmid the ongoing novel coronavirus threat and despite fears of the virus spreading in the U.S., President Donald Trump and the 2020 Democratic presidential front-runners are continuing to campaign. Trump campaign communications director Tim Murtaugh told ABC News on Saturday that they were "proceeding
Read more »
The Best Blenders For Any Budget of 2020We've compiled this list of the eight top blenders on the market, to help you choose the one that's best for your needs and budget.
Read more »
How Google, Netflix And Other Brands Are Celebrating International Women’s Day 2020March 8 is International Women’s Day, a time to celebrate all that women have achieved and raise awareness of all that still needs to be done to achieve gender parity. From beauty to tech and the industries in between, here’s how some of the biggest businesses are commemorating the occasion.
Read more »
Okeechobee Music Festival 2020: 10 Best Moments
Read more »
The 13 Best Jewels At TEFAF Maastricht 2020From contemporary high jewelry artists to vintage fine jewelry dealers, there was no shortage of exceptional pieces on display at 2020 TEFAF Maastricht.
Read more »