U.S. Oil Production Won’t Reach 13 Million Bpd Any Time Soon

If you’re in the camp that is wishfully thinking U.S. oil production will rebound anytime soon north of 13 million barrels per day, U.S. Energy Secretary Dan Brouillette is ready to dash those hopes. Brouillette said on Wednesday that he’s not so sure U.S. production will rebound to 13 million bpd quickly—the level reached in January 2020 before the pandemic sunk its teeth into demand. The reason, according to Brouillette, is that consumer demand just isn’t sufficient to push demand for crude oil. “We simply don’t…