Post Tagged with: "US crude production"

Source: CNBC

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says


OPEC  and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts.

The alliance’s historic …

Source: Reuters

U.S. crude dips below $20 as lockdowns wipe out demand


LONDON – Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could …

Source: Reuters

U.S. oil output soars to record 12.4 million bpd in August: EIA

Source: Reuters

NEW YORK (Reuters) – U.S. crude production soared nearly 600,000 barrels per day in August to record of 12.4 million, buoyed by a 30% increase in Gulf of Mexico output, according to government data released on Thursday.

The …