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Analysts said WTI crude increased late in the day as more Texas oil refineries started to return to service, including Valero Energy’s Port Arthur plant and Citgo Petroleum’s Corpus Christi plant.
OPEC+ Considering Oil Output Roll Over for April
OPEC and other oil producers, a group known as OPEC+, are considering rolling over production cuts into April instead of raising output as a recovery in oil demand remains fragile due to the coronavirus crisis, three OPEC+ sources told Reuters on March 3.
The LNG Comeback: Natgas Shines
Oil is rebounding but is forecast to continue to be constrained by excess production potential at a higher price. Meanwhile, U.S. natgas is all dressed up with lots of places to go.