Supermajors announce large-scale production increases. The late-2018 hiccup in oil prices and concerns over takeaway botdenecks have done little to slow down production in the prolific Permian Basin, which achieves record highs in production every month. According to the U.S. Energy Information Administration's (EIA) monthly Drilling Activity Report, oil production in the Permian reached nearly 4 MMbbl/d in March, an increase of 43,000 bbl/d over February production and a 33% jump since the same period in 2018.
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