https://sputnikglobe.com/20250531/us-oil-production-unlikely-to-grow-this-year-as-oil-companies-pull-back---reports-1122159739.html
US Oil Production Unlikely to Grow This Year as Oil Companies Pull Back - Reports
US Oil Production Unlikely to Grow This Year as Oil Companies Pull Back - Reports
Sputnik International
US oil companies are cutting staff and shutting down drilling rigs as crude oil prices are falling, The New York Times reported.
2025-05-31T04:28+0000
2025-05-31T04:28+0000
2025-05-31T04:28+0000
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US oil production is unlikely to grow in 2025, the newspaper said on Friday, as crude oil prices have been hovering around $60 per barrel for two months, forcing American companies to pull back. Smaller companies focused on drilling for oil plan to spend around 3.5 percent less this year, The New York Times said, citing a BloombergNEF analysis. At the same time, Exxon Mobil and Chevron are expected to keep their current spending plans. Oil production in US shale basins is expected to decline later this year, the newspaper projected, citing the International Energy Agency (IEA).
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US Oil Production Unlikely to Grow This Year as Oil Companies Pull Back - Reports
MOSCOW (Sputnik) - US oil companies are cutting staff and shutting down drilling rigs as crude oil prices are falling, The New York Times reported.
US oil production is unlikely to grow in 2025, the newspaper said on Friday, as crude oil prices have been hovering around $60 per barrel for two months, forcing
American companies to pull back.
Smaller companies focused on drilling for oil plan to spend around 3.5 percent less this year, The New York Times said, citing a BloombergNEF analysis. At the same time, Exxon Mobil and Chevron are expected to keep their current spending plans.
Oil production in US shale basins is expected to decline later this year, the newspaper projected, citing the International Energy Agency (IEA).
