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CRAK - December U.S. Oil Production Unexpectedly Drops
VanEck Vectors Oil Refiners
While overall US production was down, a better indication of the health of the US oil industry can be gleaned by looking more closely at the On-shore L48 states.
Since the beginning of April 2021, the US has been adding Hz oil rigs at a rate of close to 3.39 rigs/wk.
November’s world oil production increased by 844 kb/d to 79,747 kb/d according to the EIA.