Permian Oil Output Close To Pre-Pandemic Level

Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration. According to the report, oil production in the Permian stood at 4.826 million bpd this month and will rise to 4.888 million bpd in November. The October average is already higher than the average for February 2020, which stood at 4.816 million bpd. With the price of U.S. crude at over $80 per barrel for the first time in years, shale oil production is finally picking up. Although…