Tuesday, April 14, 2015

Oil Above $58

Crude oil rose above $58 a barrel on Tuesday after a forecast that U.S. shale oil output will record its first monthly decline in more than four years and on tensions in Yemen. The U.S. Energy Information Administration (EIA) said on Monday it expected U.S. shale production to fall by 45,000 bpd to just under 5 million bpd by next month, Reuters reported.

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