Return to pre-pandemic production levels still a ways off

2021-07-30

A return to pre-pandemic US oil production levels could be years away as shale operators continue to rein in spending and production growth, despite a more than 50% rise in oil prices so far this year, said oil producer Hess Corp. "Shale will not be growing at the level that it was growing at in the last five years ... it's going to be hard to get to pre-COVID levels of 13 million barrels a day probably for the next three or four years," said Hess CEO John Hess.

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