Oil futures close higher on possible US shale decline

摘要

New York—Oil futures strengthened Tuesday on expectations that US shale production could soon drop for the first time in response to lower prices. NYMEX May crude settled $1.38 higher at $53.29/b. ICE May Brent ended up 50 cents at $58.43/b. NYMEX May ULSD closed 1.84 cents higher at $1.8017/gal. NYMEX May RBOB settled 3.14 cents higher at $1.8360/gal. US shale production is forecast to decline in May by 57,000 b/d to 5.561 million b/d from a month earlier, driven by drops in the Eagle Ford, Bakken and Niobrara plays, the US Energy Information Administration said this week.