US unconventional oil production could decline

US oil companies are cutting back on investment and reducing the number of wells being drilled amid falling oil prices and higher drilling costs resulting from tariffs imposed by the Trump administration. Production increases in OPEC countries are worrying US oil companies, which plan to reduce their production by 1.1 million barrels per day this year, bringing US oil production to 13.3 million barrels per day. If this decline is confirmed, it will be the first drop in ten years, excluding 2020, the year of the health crisis.