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    2020-4-19 · We estimate US Lower 48 supply will be 2.6 million b/d below our pre-price collapse forecasts for end 2021, 2.1 million b/d crude and condensate and 0.5 million b/d of NGLs. The analysis assumes operators, in response to the lower oil price, cut over 100 rigs from the Permian by end May and over 200 (or 25%) across all plays by end June.

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