U.S. oil production will probably take more than two and a half years to return to its record 13 million barrels per day. The price crash has led to at least 1.5 million bpd of production shut-ins between the beginning of April and late May. U.S. oil production will probably take more than two and a half years to return to its record 13 million barrels per day (bpd) production from February, because companies don’t have enough funding to drill new wells even if oil prices were to quickly rise, analytics firms tell Bloomberg . U.S. crude oil production could still be some 16 percent below its February 2020 peak, according to the average of five major forecasters Bloomberg has polled. The price crash has led to at least 1.5 million bpd of production shut-ins between the beginning of April and late May, according to data from Genscape . […]