U.S. Crude Inventories Unexpectedly Rose by 5.4M Barrels
U.S. energy firms this week reduced the number of oil rigs operating for the third time in four weeks even as crude production forecasts increase despite some drillers cutting spending.
Brent Oil Recovers $70 Following Bullish U.S. Crude Inventory Data
Crude prices fell on Tuesday afternoon as the API reported the third crude oil build in three weeks
U.S. energy firms this week increased the number of oil rigs operating for the first time in three weeks even as crude output decelerates with the rig count dropping five months in a row due to spending cuts.
U.S. crude inventories climbed last week by 9.9 million barrels as imports grew to their highest since January and refining rates dropped.
U.S. oil drillers this week cut the most rigs in over three months and reduced the number of oil rigs operating for a second week in a row and for the fifth straight month, as independent producers follow through on plans to cut spending on new drilling and completions.
U.S. Crude Oil Inventories Jump, OPEC Supply May Be on the Rise
Oil prices fell on Wednesday amid signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington's push for tighter sanctions against Iran.
U.S. Crude Oil Inventories Fell by 1.4M Barrels Last Week: EIA