IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d
Green Car Congress
MAY 22, 2020
Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 This resumption of production may accelerate if WTI remains above $30 per barrel—a price that allows operators to cover their operating costs and that reflects improved storage availability.
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