U.S. Markets open in 4 hrs 25 mins

These Catalysts Could Increase Downside Momentum in Oil Prices

Gordon Kristopher
These Catalysts Could Increase Downside Momentum in Oil Prices

The EIA (U.S. Energy Information Administration) released its weekly US crude oil production data on June 6. It reported that US crude oil production increased 31,000 bpd (barrels per day) to a record high of 10.8 MMbbls/d (million barrels per day) from May 25 to June 1. Production increased 1.5 MMbbls/d, or ~15.9% year-over-year.