U.S. crude oil production in May has a record monthly decrease

Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day (b/d), the largest monthly decrease since at least January 1980, according to the U.S. Energy Information Administration’s (EIA) Monthly Crude Oil and Natural Gas Production Report. This decrease surpassed the previous record drop in September 2008 when Hurricanes Gustav and Ike caused production to fall by 1.03 million b/d. May marks the sixth consecutive monthly decrease in crude oil production and is the third month since the March 2020 declaration of a national emergency concerning the coronavirus disease (COVID-19) outbreak.
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