The U.S. government said on Tuesday it expects domestic oil output in 2000 to recoverGrow.strongonly 2.2 percent , the slowest pace in years , as the relentless rout in prices puts the brakes on the country 's five-year shale riseGrow.strong.
Oil prices climbedMovement.up.gainmore than 2 % on Wednesday as China reported its lowestPosition.lowdaily number of new coronavirus cases since late January , stoking investor hopes that fuel demand in the world 's second-largest oil consumer may begin to recoverGrow.strongfrom the epidemic .
Riyadh , supported by Kuwait and the United Arab Emirates , has boostedCause.movement.up.gainsupply informally to cover for unplanned outages in other OPEC members in recent months including in Libya , which is now seeing its production recoverGrow.strong.
The U.S. government said on Tuesday it expects domestic oil supply in 2000 to recoverGrow.strongonly 2.2 percent , the slowest pace in years , as the relentless rout in prices puts the brakes on the country 's five-year shale boomGrow.strong.
The U.S. government said on Tuesday it expects global oil production in 2000 to recoverGrow.strongonly 2.2 percent , the slowest pace in years , as the relentless rout in prices puts the brakes on the country 's five-year shale boomGrow.strong.
The U.S. government said on Tuesday it expects domestic oil production in 2000 to recoverGrow.strongonly 2.2 percent , the slowest pace in years , as the relentless rout in prices puts the brakes on the country 's five-year shale riseGrow.strong.