Six US oil firms expected to shut 300,000 barrels per day in May, June [CNBC]
Exxon Mobil Corporation (XOM)
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VIDEO2:5102:51BP cutting US shale rigs from 13 to 'one or two' in 2020, CEO saysSquawk Box EuropeU.S. energy companies are taking an axe to their rig numbers, deepening production cuts for the industry that in the last few years made America the world's number one oil producer.Six major U.S. shale producers are expected to shut some 300,000 barrels per day (bpd) of crude for the months of May and June, according to an analysis of the companies' early communication by Rystad ."Analyzing communication byContinental ResourcesCimarex ConocoPhillipsPDC Parsley Enerplus CorporationIn March, American producers were still pumping at record highs, according to the Information Administration, even as prices plunged due to the loss of demand from the coronavirus pandemic. The latest weekly government data shows production at 12.2 million bpd in the third week of April, the lowest level since July and a stunning 900,000 bpd less than its record peak of 13.1 million bpd in early March.2:0302:03US
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