Rystad: U.S. Oil Output Will Not Recover to Pre-Covid-19 Levels Until 2021

U.S. oil production, which has steeply declined as low prices forced shut-ins, will reach a bottom of around 10.7 million barrels per day (bpd) in June, a two-year low, Rystad Energy estimates, before it starts to slowly recover. Still, U.S. monthly output is not likely to exceed 11.7 million bpd before 2022, a staggering difference from the nearly 12.9 million…

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This Week’s Market Buzz

•    Investment bank Morgan Stanley expects Brent crude prices to rise to $40 per barrel during the last quarter of the year, citing improving demand as the main driver for higher oil prices. In a note to its clients, the bank states that it expects a strong rebound in demand, and even sees a supply deficit on the horizon if…

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Everything’s Bigger in Texas

RR052820 Texas

May 28, 2020 – Digging a little deeper into the latest U.S. Geological Survey quarterly report, we find that Texas once again leads the nation in crushed stone, and sand and gravel production. In the first quarter of the year, Texas produced 40,600,000 metric tons of crushed stone, and 23,000,000 metric tons of construction sand and gravel, for a total of 63,600,000 metric tons of total…

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