Oil prices rose on Tuesday after a U.S. agency said shale output in the world's biggest crude producer would fall by the most on record in April, ...
Oil prices rose on Tuesday after a U.S. agency said shale output in the world's biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
With other producers, including the world's biggest, the United States, reducing output as well, the estimated reduction in production is about 19.5 million bpd. Still, U.S. production is falling in tandem with a drop in prices and there are signs the coronavirus outbreak may have peaked in some areas of the world.
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