According to an analysis of US regulatory documents by Reuters, as of the end of the first quarter, a total of four shale producers in West Texas had hedged their oil output of 100 million barrels next year, compared with 40 million at the end of the four
The report also showed that commercial crude oil inventories excluding strategic reserves increased by 250,000 barrels to 7.9 billion barrels, an increase of 0.%; commercial crude oil excluding strategic reserves imported 9.05 million barrels per day last
On the 4th, the OPEC monthly report announced that the implementation rate of production cuts reached 05%. Due to the over-fulfillment of OPECs production cut targets and the impact of the United States oil sanctions on Venezuela and Iran, international o
And in OPECs production increase, Saudi Arabia contributed the most, reaching 540,000 barrels per day. The other major production increase countries are Iraq, Kuwait and the UAE. Due to the impact of US sanctions, Iran’s September crude oil production dec
The EIA report shows that as of the week of April, US crude oil inventories decreased by 0 million barrels to 27.6 billion barrels, and the market estimated a decrease of 490,000 barrels. Last week, Cushing, Oklahomas crude oil inventories fell by 50,000
