The outcome of US presidential election in November is not expected to have an immediate impact on global oil flows, but Middle East producers will be closely watching the results, in the hopes of gaining more market share in Asia. US oil production is returning from peak shut-ins of 2.8 million b/d during the oil price crash in spring 2020, but drillers’ severe capital expenditure cuts and slowing drilling activity will constrict output through 2021. S&P Global Platts Analytics expects US oil production to decline about 880,000 b/d year on year in 2020 and more than 1 million b/d in 2021. Democratic nominee Joe […]