US Oil Production Unlikely to Grow This Year as Oil Companies Pull Back - Reports

NAMPA / Sputnik

2025-05-31

MOSCOW, May 31 (RIA Novosti) - US oil companies are cutting staff and shutting down drilling rigs as crude oil prices are falling, The New York Times reported. US oil production is unlikely to grow in 2025, the newspaper said on Friday, as crude oil prices have been hovering around $60 per barrel for two months, forcing American companies to pull back. Smaller companies focused on drilling for oil plan to spend around 3.5 percent less this yea......

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