Most of the projected 3 million b/d-4 million b/d of downed US crude oil production, which went offline after power failed and wellheads froze from brutally low temperatures and ice storms Feb. 14-15, could be restored by the weekend, S&P Global Platts Analytics estimated Feb. 16. The offline production estimate represented a peak on Feb. 15, although restoration of power and production has already begun. Roughly 500,000 b/d to 1.5 million b/d may have already been restored by Feb. 16 across the US, much of it in Texas which is the country’s largest producing state, Platts Analytics analyst Parker Fawcett said, “On the gas side, our sample is down over […]