U.S. crude oil production unchanged during the week ending March 27, U.S. Energy Information Administration (EIA) said Wednesday.
According to the EIA, U.S. crude oil production averaged 13.0 million barrels per day (b/d) last week, the same as the previous week and up by about 800,000 b/d year-on-year.
Oil prices declined on Wednesday as concerns of supply glut and weaker demand rattled the market.
The West Texas Intermediate for May delivery decreased 0.17 U.S. dollar to settle at 20.31 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery was down 1.61 dollars to 24.74 dollars a barrel on the London ICE Futures Exchange.
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