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Most Economists Believe Oil Production Will Rebound, The Question Is When

The price of oil has started to rebound, but most oil and gas producers say it’ll take a while before demand returns to normal. The Federal Reserve Bank of Dallas surveyed 168 companies. Senior research economist Michael Plante says 71 percent of those companies have cut production. He says 39 percent of companies don’t expect drilling to return to normal until 2022, and another 16 percent don’t think drilling will ever return to levels from before the virus.