BCSnob wrote:
What decrease in US oil production since Jan 2021? All I find is a big decrease in production around Feb 2020.
US Crude Oil Production Apr 1983-Feb 2022
But why let the facts get in the way of a good story
Yup, looks like you’re correct, back to reading comprehension 101 for me!
As an added note, looks like the decline tracks with the onset of Covid, where I guess the demand probably would have also similarly declined. Hence the supply and demand would have still been in equilibrium, and cost of gas remained low. Not so today however.