Independents play a significant role in America’s oil and gas industry contributing 83 percent of the country’s oil output. Their entrepreneurial spirit and willingness to take on risk spawns innovation and creates jobs, adding to U.S. gross domestic product. WTI Crude is $55.47; Brent is $65.12 this morning.
There is optimism in the oil markets after inventory data confirmed that the supply glut isn’t building. The API reported a 5.27 million-barrel drop last week in US crude stockpiles. WTI Crude is $58.76; Brent is $68.86 this morning.
Oil prices fell more than 2% on Wednesday as China signaled it would use the rare earths card in its trade war with the US, stoking concerns that an ongoing stand-off could hurt crude demand. WTI Crude is $57.93; Brent is $68.81 this morning.
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