EIA: Crude market balancing more quickly
Agency says US crude production averaged 11.4M bpd in May, down from record 12.9M bpd in November; continued decline expected Kristen Nelson Petroleum News
In its monthly Short-Term Energy Outlook, released June 9, the U.S. Energy Information Administration said it now believes that the crude oil market is balancing more quickly than it thought just a month ago, but also cautions that while revisions to its June forecast are generally smaller than in r....
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