The US Energy Information Administration (EIA) recently reported that crude oil production in the US declined by 26,000 barrels per day in May to 12.108 million barrels per day.
The EIA further reported that April’s reading got revised down by 28,000 barrels per day to 12.134 million barrels per day.
This data doesn’t seem to be impacting crude oil’s market valuation. As of writing, the barrel of West Texas Intermediate was trading at $58.50, adding 0.25% on a daily basis.
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