# Oil producers eye long road to recovery as Texas begins to thaw

> Oil producers face a slow recovery as Texas output comes back after the freeze. Production losses represent 2% to 4% of global supply, and several companies including Occidental Petroleum announced delays in restarting operations.

- Date: 2021-02-23 · published 2021-02-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/48811-oil-producers-eye-long-road-to-recovery-as-texas-begins-to-thaw
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A slower restart keeps global crude tighter for longer, supporting prices and energy costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-02-03 | [Rystad Energy: This week’s gas and LNG market \| LNG Industry](https://feedsoft.ai/events/9231-rystad-energy-this-week-s-gas-and-lng-market-lng-industry.md) | -33.0% | -23.0% |
| NATGAS | 2026-07-31 | [US natgas prices little changed as hotter weather offsets record output and lower LNG flows — TradingView News](https://feedsoft.ai/events/18542-us-natgas-prices-little-changed-as-hotter-weather-offsets-record-output-and.md) | -3.1% | +7.2% |
| NATGAS | 2021-03-10 | [ERCOT Tracker: Power, gas prices hit records during Feb. 14 winter storm](https://feedsoft.ai/events/48288-ercot-tracker-power-gas-prices-hit-records-during-feb-14-winter-storm.md) | -4.2% | -6.3% |
| NATGAS | 2022-10-26 | [U.S. natgas steady as mild weather offsets planned LNG export rise \| Financial Post](https://feedsoft.ai/events/39313-u-s-natgas-steady-as-mild-weather-offsets-planned-lng-export-rise-financial-post.md) | -5.1% | +21.0% |
| NATGAS | 2025-01-23 | [CIO sees a risk that natural gas prices could come under pressure \| UBS Global](https://feedsoft.ai/events/6350-cio-sees-a-risk-that-natural-gas-prices-could-come-under-pressure-ubs-global.md) | -12.2% | +22.8% |
| WTI | 2020-08-28 | [-Oil prices dip as producers, refiners avoid worst of hurricane \| Reuters](https://feedsoft.ai/events/51781-oil-prices-dip-as-producers-refiners-avoid-worst-of-hurricane-reuters.md) | -3.6% | -6.5% |
| WTI | 2024-09-12 | [Oil rises 2% as storm batters US Gulf of Mexico production](https://feedsoft.ai/events/10166-oil-rises-2-as-storm-batters-us-gulf-of-mexico-production.md) | +5.3% | +8.4% |
| WTI | 2021-02-12 | [Record cold brings a windfall for small U.S. natural gas producers](https://feedsoft.ai/events/5581-record-cold-brings-a-windfall-for-small-u-s-natural-gas-producers.md) | +1.6% | +12.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-producers-eye-long-road-recovery-texas-begins-thaw-2021-02-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.