Alberta's crude production fell to its lowest level in two years in May, as wildfires and maintenance work reduced output from the oil sands. According to Bloomberg, crude output in Canada's Alberta province fell by 397,000 barrels to 3.61 million barrels per day in May.
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
Standard Chartered predicts the group will announce one final 411,000 barrel-per-day production increase at its August meeting. Oil markets will easily absorb extra supply in the short term.
According to a quarterly survey by the Federal Reserve Bank (Fed) of Dallas, US shale companies are set to drill fewer wells this year than initially planned as uncertainty over President Donald Trump's tariffs and lower oil prices hurt profits.
The CNY publication is expected
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