Carlsbad Current Argus (May 29, 2020) – Oil and gas in the Permian Basin could be headed for recovery as prices rebuild from April’s historic collapse driven by reduced demand brought on by the global COVID-19 pandemic.  Many states recently began pulling back on travel restrictions and stay-at-home orders, which could cause fuel demands to increase and the price of oil to grow.  As of Tuesday, domestic crude was reported at $33.25 per barrel, per the Chicago Mercantile Exchange, showing a more-than-$10 increase since May started at about $19 per barrel.

Permian Basin Could Be Headed For Recovery