U.S. crude oil production increases last week: EIA
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E-mail Xinhua, March 26, 2020
HOUSTON, March 25 (Xinhua) -- U.S. crude oil production decreased slightly during the week ending March 20, U.S. Energy Information Administration (EIA) said Wednesday.
According to the EIA, U.S. crude oil production averaged 13.0 million barrels per day (b/d) last week, down by 100,000 b/d from the previous week and up by about 900,000 b/d year-on-year.
Oil prices extended gains on Wednesday as investors are hopeful the United States would approve a massive economic aid package amid the coronavirus fallout.
The West Texas Intermediate for May delivery rose 0.48 U.S. dollar to settle at 24.49 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery climbed 0.24 dollar to close at 27.39 dollars a barrel on the London ICE Futures Exchange. Enditem
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