US shale industry faces steep production cuts

Rystad Energy forecasting cuts in output larger than 655,000 bpd in June as sector suffers fallout from oil price war and Covid-19

Decline: production cuts will hit Permian basin and the Bakken formation the hardest — Decline: production cuts will hit Permian basin and the Bakken formation the hardestPhoto: REUTERS/SCANPIX

Julia Martinez

Houston

Published 14 May 2020, 06:29Updated 14 May 2020, 06:29

Permian Basin Bakken EOG Resources Occidental Petroleum USA