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Oil report

Fracking services will not recover to pre-pandemic levels until 2025 -Rystad Energy

Sept 22 (Reuters) - Demand for U.S. fracking services will not return to pre-pandemic levels until 2025, consultancy Rystad Energy said on Tuesday in an online presentation.

A recovery in demand for hydraulic fracturing services will be “slow and painful,” Thomas Jacob, vice president of Shale Research said. Between 250 and 300 fracking fleets will meet demand, even if U.S. oil prices recover to above $60 a barrel, he said. (Reporting by Liz Hampton Editing by Chris Reese)

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