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The U.S. Gulf of Mexico accounts for around 15 percent of total domestic oil production and 2 percent of natural gas production
Russia's oil exports to Asia-Pacific region grew 1.5-fold and already exceeded 60 percent
New Permian wells delivering high output at 433,000 barrels per day
Fed rate cut likely as inflation continues to decline
This procurement is part of a series of contracts aimed at refilling the nation's emergency oil stockpile
The IEA has forecast an oil demand growth of 970,000 barrels per day (bpd) in 2024
Gasoline product supplied last week was 8.9 million bpd, up slightly from the previous week
OPEC projects demand for crude to reach 43.2 million barrels per day in 2024
Earnings to increase in the next two quarters as demand picks up during the summer driving season
IMF projects a GDP growth rate of 3.2 percent for Russia
The unexpected decrease in U.S. inventories, as indicated by industry data, provided some support to crude prices
Investors fueled the increase as they continued to assess geopolitical concerns in the Middle East
The exports are primarily driven by sales from bonded storage for vessels operating on international routes
Brent crude futures declined to $86.62 per barrel, WTI crude futures dropping to $82.51 per barrel
Brent futures rose by $2.63, reaching $89.74 per barrel
Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
Japan imports 95 percent of its oil from the Middle East
Brent oil futures fell 0.1 percent to $89.89 per barrel
Libya's crude oil output reached 1.24 million barrels per day (bpd) in March 2024
Brent crude futures for June delivery gained 48 cents, or 0.5 percent, settling at $90.58 per barrel
Sustained oil output, growing non-oil investments key to healthy economy
Learn how to trade one of the world’s most important commodities
Region expected to grow by less than 3 percent in 2024
U.S., Russia and Saudi Arabia occupy the top spots
