Total crude oil production in the state dropped 20,419 bopd, going from 1,047,003 bopd in May to 1,026,584 bopd in June. That is a decline of 1.95%. I’ll make a guess that another month or two will see production cross the one million point.
The Director’s Cut is guessing the low prices, and consequent low rig count, will last through third quarter this year or second quarter of next year.
Just one graph today:
