IHS Markit: global oil production now expected to be cut by as much as 17 MMb/d in Q2 2020; the Great Shut-In
Green Car Congress
MAY 9, 2020
IHS Markit now expects much as 17 MMb/d total liquids output (which includes nearly 14 MMb/d of crude oil production) to be cut or shut-in during the period between April and June 2020. The Great Shut-In, a rapid and brutal adjustment of global oil supply to a lower level of demand is underway. But there is nowhere to hide.
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