Nigeria’s Oil Reserves Reached 27b Barrels

The Nigerian National Petroleum Corporation (NNPC) has announced that the country’s oil and gas reserves has increased to 37b barrels.

US Shale Oil Producers Restart Rigs

Rigs targeting crude in the US rose by 9 to 325 in the last week of May and demand come closer into balance, Baker Hughes said adding that explorers have idled more than 1,000 oil rigs since the start of last year.

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