U.S. Oil Output Drops to 16-Month Low as Spending Cuts Take Hold

  • Output down 3.6% from year earlier at 9.11 million b/d: API
  • February gasoline consumption increased to record for month

Volatility in Oil Impacting Global Markets

U.S. crude production in February declined to a 16-month low as prices dropped to the lowest level in more than 12 years and spending cuts by drillers took hold.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.