Europe is set to receive more cargoes of U.S. crude from the Strategic Petroleum Reserve (SPR) as the European Union discusses an oil embargo on Russia and looks to reduce reliance on Russian oil, Bloomberg reported on Thursday, citing tanker-tracking data and sources with knowledge of the shipments…
U.S. Oil Output Tops 12 Million Barrels a Day for First Time…
U.S. crude output soared to new heights in April, highlighting OPEC’s dilemma just days before the producer group meets amid growing geopolitical threats. A government report on Friday showed U.S. production grew 2.1% in April to 12.16 million barrels a day. Booming shale production from places like the Permian basin of West Texas have enabled […]