Commodities
US Oil Output to Fall Next Year Unless Rig Counts Rise, Key Energy Investor Says
- Drop of 1 million barrels per day possible as fields decline
- Vaughan Nelson exec says $90 oil needed to boost rig counts
An oil drilling rig in Midland, Texas.
Photographer: Sergio Flores/BloombergThis article is for subscribers only.
US oil production is set to decline about 1 million barrels per day by the second half of 2025 unless rig counts rise, a key energy investor said.
More rigs will be needed to offset declining productivity from existing wells, said Adam Rich, deputy chief investment officer at Vaughan Nelson, a Houston-based investment manager.