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Posted
February 16, 2021
Views
44,081
Likes
272
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February 16, 2021
44,081
272
0.62%
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23:10:13Now Playing(Feb. 16) U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts.
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Oil traders and company executives, who asked not to be identified, lifted their forecasts for supply losses from an earlier estimate on Monday of 1.5 million to 1.7 million barrels.
They said the losses were particularly large in the Permian Basin, the most prolific U.S. oil region, which straddles West Texas and southeast New Mexico.
Output cuts were also significant in the Eagle Ford, in southern Texas, and the Anadarko basin in Oklahoma.
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