“Oil Prices Jump As Key U.S. Supply Data Stuns Again; Output Continues To Plunge”
May 20, 2020
“U.S. crude production fell to 11.5 million barrels per day from 11.6 million bpd in the prior week, EIA said Wednesday. That’s down from a high of 13.1 million in March and the marked the seventh consecutive decrease…
U.S. crude futures jumped 4.5% to $33.41 per barrel, in the first day for July-delivery contracts taking over as the front month. Brent oil prices climbed 4% to $36.07 per barrel…
Exxon Mobil (XOM) shares rallied 3% on the stock market today, as oil prices continued to rise. Chevron (CVX) rose 2.6%. Among top shale oil stocks, EOG Resources (EOG) climbed 4.8%, and Pioneer Natural Resources (PXD) added 3%…”
Many places are starting to reopen. It’s natural for demand to increase.