Despite the fact that U.S. shale producers have brought back a quarter of the output they had curtailed, production is set for a new slump after the summer as new well drilling has ground to a halt and won’t be able to sustain output levels, analysts and oil executives told Reuters . U.S. oil firms are estimated to have curtailed around 2 million bpd of crude oil production in May after prices plunged and demand crashed in the pandemic. By early July, producers had restored some of the production , estimated at around one-quarter of the curtailments. Houston-based Noble Energy plans to bring back by the end of July most of the oil production it had curtailed in the second quarter. In the middle of June, Continental Resources – which had shut in 70 percent of its output – said it expects to partially begin resuming production but still […]