US proved oil reserves diminished by fifth

Proved oil reserves in the United States slipped 19% over the course of 2020, from 44.2 billion barrels to 35.8 billion barrels, according to fresh data from the Energy Information Administration (EIA). Read Full Article at

US crude oil production is set to exceed pre-pandemic levels next year, driven by a jump in shale output as higher prices push producers to drill more wells to offset declining rates, the Energy Information Administration says.

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