U.S. oil companies have increased production by 1.2 million bbl/d over the past six weeks, as they restore wells shut earlier this year and start producing from others they left unfinished as prices sank.

Output bottomed out at 9.7 million bbl/d in the second week of June but has since risen to 10.9 million bbl/d as activity starts to pick up in the big shale fields of Texas, according to Genscape, a division of consultancy Wood Mackenzie that monitors energy flows. That figure is more than the U.K.’s entire crude production of 1.1 million bbl/d.

U.S. production should now stabilise at about 11m b/d through to the end of 2020, analysts said. That is well below the 13 million bbl/d in March before the Saudi-Russian price war and coronavirus pandemic devastated U.S. oil prices.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access