The WTI front-month contract rose 11 cents, less than 1%, last week to settle at
$64.00/bbl on Thursday before markets closed for Good Friday. A surprise decline in US
crude oil inventories provided price support.
On Monday, April 15, WTI fell 49 cents to $63.40/bbl. The US Energy Information
Administration’s monthly drilling
productivity report was released, predicting
an 80,000 bo/d monthly increase in oil
production from the seven major US
shale plays to a total of 8.46 MMbo/d in
May. Data showed that......
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