"U.S. production is going to get hit hard,” Burkhard said. “Once you stop drilling, you have these very rapid decline rates that you don’t have anywhere else in the world.” Many producers in the U.S. are shale producers, and their wells cost more to operate than traditional oil drilling. Their wells also produce most of their oil in the first few years; after that, production drops off dramatically, so when drilling stops that leads to rapid declines.

Source: International New York Times April 28, 2020 23:03 UTC