Oil rebounds after steep drop, underpinned by tight supplies

U.S. crude production, which has been largely stagnant over the last few months, edged up 100,000 barrels per day last week to 12 million bpd, its highest level since April 2020, data from the Energy Information Administration showed.U.S. crude stocks and distillate inventories rose while gasoline inventories fell in the week through June 10, the EIA said.

from Commodities-Markets-Economic Times
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