US ONSHORE oil and natural gas production saw some of its largest declines in more than a year in latest data, a trend that has implications for both short-term prices and long-term market dynamics despite a rising rig count.
Production from the Lower 48 US states declined by 140,000 barrels per day of oil between March and April to 6.84 million bpd, according to the latest figures from the US Energy Information Administration (EIA).
