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Oil production in the United States reached a record 11 million 475 thousand barrels per day in September, allowing the country to maintain leadership in this indicator in the world for two months in a row. The second place in the ranking was taken by Russia, the third – by Saudi Arabia. According to the Energy Information Administration, in October, the negative impact of hurricanes in the Gulf of Mexico is expected to lower production in the United States to 11,400,000 barrels per day, which will equalize the October level with the figure for Russia. The US Department of Energy raised its forecast for oil production growth in the country up to the current year to 10 million 900 thousand barrels of oil per day.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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 ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
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