U.S. | The Permian basin and the rebound in U.S. crude oil production

Summary

U.S. crude oil production continues to increase, complicating efforts made by OPEC and its partners to stabilize the market through output cuts. After reaching a bottom in July 2016, U.S. production has surged by 969,000 b/d to 9.4 million b/d as of July 7 2017. At this pace, production could surpass its previous peak of 9.6 million b/d sometime in what remains of 2017.

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