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U.S. shale oil output to drop 139,000 bpd to 7.51 million bpd in December: EIA
U.S. oil output from shale formations is expected to decline by about 139,000 barrels per day (bpd) in December to about 7.51 million bpd, the lowest level since June, the U.S. Energy Information Administration said in a monthly forecast this week.
Rising US Natural Gas Prices During Pandemic Erode LNG Competitiveness
It came as no surprise that, as oil demand and prices collapsed during the coronavirus pandemic, natural gas prices did the same. The surprise came in a puzzling exception to this trend. As prices fell dramatically in Europe and Asia, US prices remained relatively steady, even rising at times. Mark Finley and Anna Mikulska of Rice University’s Baker Institute for Public Policy recently laid out the puzzling phenomenon and its potential implications, including erosion of US competitiveness in the global market for liquefied natural gas (LNG).
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