S&P Global Platts Upstream Indicator reports U.S. rig count is 1,040 rigs, down 13 from the previous week. WTI Midland average for the week is $52.24, down $0.13 from last week.
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The US crude oil market is experiencing a sea change as production and exports continue to rise. US producers will rely on export markets to find the best home for light, sweet crudes . . .
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Oil tankers ablaze in the Gulf of Oman and the US pointing the finger at Iran should be enough to send the price of the world's most vital commodity skyrocketing . . .
The US exported more than 3 million b/d of crude for the second week in a row in the week ended June 7, aided by macroeconomic factors that have made US prices . . .
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