Post Tagged with: "US production"

Source: Reuters

Oil hits $68 on Libya force majeure despite pandemic surge


LONDON – Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by disruption to Libyan exports and expectations of a drop in U.S. crude inventories, though rising coronavirus cases in Asia limited …

Source: Reuters

Oil falls over 3% as dollar rises and vaccine rollout stalls


LONDON – Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.

Brent crude was down $2.33, or …

Source: Reuters

Oil prices gain as inventories fall and demand picks up


LONDON – Oil prices rose on Monday buoyed by falling inventories and hopes of a swifter global economic recovery, although halting vaccine rollouts and renewed travel restrictions capped gains.

Brent crude was up 57 cents, or 1%, at $55.61 …

Source: CNBC

Six US oil firms are expected to shut 300,000 barrels per day of production in May and June


U.S. energy companies are taking an axe to their rig numbers, deepening production cuts for the industry that in the last few years made America the world’s number one oil producer.


Six major U.S. shale producers are expected …