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At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output.
The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3.
Oil prices were broadly stable on Wednesday, recouping earlier losses after rising U.S. crude stockpile data and an increase in coronavirus infections in the United States cast doubts over a swift ...
Oil was anchored near $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles, while concerns linger about the threat to demand from rising coronavirus infections.
Brent oil futures was up slightly 0.21% to trade at $43.17 by 9.44 GMT ,while the West Texas Intermediate futures gained by 0.02% to $40.63. The American Petroleum Institute (API) earlier released a ...