U.S. Oil Drillers Ramp Up Output Amid Higher Prices ...Middle East

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U.S. Oil Drillers Ramp Up Output Amid Higher Prices
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U.S. oil drillers are pumping more crude as international prices remain elevated amid supply uncertainty and demand strength. Citing industry experts, Reuters reported today that continuing supply chain disruptions and labor shortages are being trumped by optimism about demand, and analysts are revising their U.S. oil output forecasts upward. According to consultancy East Daley Capital, the U.S. will end 2022 with oil production averaging 12.86 million bpd, increasing 1.29 million bpd from 2021. Most of this will come from the Permian Basin, the…

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