U.S. crude oil production decreases last week

Source: Xinhua | 2020-05-29

U.S. crude oil production decreases during the week ending May 22, U.S. Energy Information Administration (EIA) said Thursday.

According to the EIA, U.S. crude oil production averaged 11.4 million barrels per day (b/d) last week, down by 100,000 b/d from previous week and down by 900,000 b/d this time last year.

Oil prices climbed on Thursday even after data showed a surprise build in U.S. crude stockpiles.

The West Texas Intermediate for July delivery was up 0.9 U.S. dollar to settle at 33.71 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery rose 0.55 dollar to close at 35.29 dollars a barrel on the London ICE Futures Exchange.