The U.S. saw its oil output hit a high of about 13 million bbl/d at the end of 2019 before the coronavirus-driven market collapse sent production into a nosedive earlier this year.

By the end of May, production had fallen to 10.3 MMbbl/d, triggered by widespread curtailments in an effort to help bring the global market closer to balance and improve tanking oil prices. U.S. producers of unconventional, offshore and conventional resources alike cut output along with other major oil- and gas-producing regions across the world.

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