U.S. crude oil production decreases last week

Source: Xinhua | 2020-04-30

U.S. crude oil production decreased during the week ending April 24, the U.S. Energy Information Administration (EIA) said Wednesday.

According to the EIA, U.S. crude oil production averaged 12.1 million barrels per day (b/d) last week, down by 100,000 b/d from the previous week.

Oil prices soared on Wednesday as traders gauged the possibility of normalizing economic activities and digested the latest data in U.S. crude inventories.

The West Texas Intermediate for June delivery increased 2.72 U.S. dollars, or 22.04 percent, to settle at 15.06 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery rose 2.08 dollars, or 10.17 percent, to close at 22.54 dollars a barrel on the London ICE Futures Exchange.