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, 2021Javier 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)