Oil Prices Fall As US Ramps Up Oil Production

Sparta Report | 5/31/2019 | Doomberg
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An article from Reuters tries to spin the recent fall in oil prices as negative news, and say that the trade war is causing oil futures to decline (so therefore, cheaper oil and gas is a bad thing).

But later on in the article, a much more plausible explanation for the price declines are given:

Crude - Prices - Pressure - Smaller-than - Decline

Crude prices have also been under pressure from a much smaller-than expected decline in U.S. stockpiles and U.S. crude oil production’s return to its record 12.3 million barrels per day.

The U.S. Energy Information Administration (EIA) said U.S. crude stocks fell by around 300,000 barrels last week, to 476.49 million barrels.

That was...
(Excerpt) Read more at: Sparta Report
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