Oil Executives Cite Supply Chain, Labor Challenges in Dallas Fed Survey

An oil pumpjack (L) operates as another (R) stands idle in the Inglewood Oil Field in Los Angeles on Jan. 28, 2022. Mario Tama/Getty Images

U.S. oil and gas sector activity advanced at a strong pace, although the rate of expansion decelerated in the third quarter, according to the Federal Reserve Bank of Dallas Energy Survey for the third quarter.

The business activity index, a measurement of conditions facing energy companies in the region, fell to 46.0 in the July-to-September period from the second quarter’s record of 57.7.