FROM THE OIL PATCH

Mid-Year Forecast: U.S. to see uptick as crude prices climb, demand recovers

Mid-Year Forecast: U.S. to see uptick as crude prices climb, demand recovers

Despite analysts’ dire predictions about Covid-19’s short-term/long-term effects on the industry, demand and oil prices recovered significantly in second-and-third-quarter 2021. Even with consistently higher oil prices, U.S. operators showed uncharacteristic restraint, focusing on debt reduction and shrinking the DUC backlog rather than new drilling. The U.S. petroleum industry faced continued

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