Javier Blas and Sheela Tobben
Business, Fuel
Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News)
Oil Production Slumps by Record 40% as Permian Freezes
Pump jacks operate in the Permian Basin in Midland, Texas, on Feb. 13. (Matthew Busch/Bloomberg News)
Total U.S. oil production has plunged by close to 40% — the most ever — as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.
February 17, 2021