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U.S. Oil, Gas Producers Face Dim 2021 Outlook; Crude Leads $3.2 Billion in First-Quarter Kickoffs
Industry Segment: Production | Word Count: 622 Words
Attachment: US OG prod 1Q21
SUGAR LAND January 15, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) Things will get worse before they get better in the U.S. Oil & Gas Production Industry. The U.S. Energy Information Administration (EIA) forecasts domestic crude oil and natural gas will continue their production declines in 2021, albeit at a much slower pace than the catastrophic drops in 2020, before reviving in 2022. Industrial Info is tracking more than $3.2 billion worth of crude oil and natural gas production-related projects that are set to kick off across the U.S. in the first quarter, with the bulk attributed to oil.