there are always fluctuations
2018: 11.7M bbl/d
2019: 12.7M bbl/d
2020: 11.8M bbl/d
2021: 11.2M bbl/d

we produced less oil last year than we did in covid year 1 with shutdowns.

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Got quiet once the truth showed up.

Rigs up while production less is also a sign…

As usual this doesn’t tell the whole tale.

The difference can be attributed to two main drivers:

Output from Jan -Mar 2020 was at its pre-pandemic levels before demand collapsed. This bumped up overall 2020 totals ver 2021.

The freeze in the Midwest disrupted production, especially in Texas, in February 2021.

Aside from that, production in the US outpaced 2020 production every month except for April.

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…that the best leases are not being made available.

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