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Shale oil production in the US in May 2018 will increase by 125,000 barrels per day and amount to 7 million barrels per day, the US Energy Information Administration predicts. The Arab service CNBC reports that production will grow for the fourth consecutive month mainly due to record oil production in the Perm oil and gas basin in the states of Texas and New Mexico. It is supposed to grow by 73 thousand barrels per day to 3.2 million barrels per day. EIA experts also expect in May a record level of natural gas production in the US at 66.9 trillion cubic feet per day.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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