As it turns out, a trade war with your biggest customer isn’t the death knell some made it out to be. U.S. exports of natural gas liquids (NGLs) hit an all-time high in April, defying concerns that the escalating trade war with China would choke off demand.
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by two million barrels from the week ending April 25 to the week ending May 2, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
Curious Minds Corner
How deep does the deepest oil well go?
The Z-44 Chayvo well (Sakhalin-1 project, Russia) reached a record measured depth of 12,376 meters (over 7.7 miles).