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US crude oil production increased to 13.95 million barrels per day in July, according to the Energy Information Administration's (EIA) Petroleum Supply Monthly report. Concurrently, demand for crude oil and petroleum products saw a decrease during the same period.
US crude oil production increased in July, according to the Energy Information Administration (EIA) in its Petroleum Supply Monthly report. Concurrently, demand for crude oil and petroleum products saw a decrease.
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but