Oil recovery could take another year

It could take another year for the oil and gas industry to see pre-Covid-19 levels of production, according to the oil and gas executives surveyed by the Federal Reserve Bank of Dallas in June.

Over 150 exploration and oil field services companies in Texas, Louisiana and New Mexico responded to the Dallas Fed’s questions about how much they produced during the second quarter, how many people they employed and how they felt about the future.

Of those surveyed, 41% expected U.S. drilling and global…