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Commodity Roundup: Oil Jumps Over 2.5%, Gold Prices Rebound From Last Week's Selloff
Oil Rebounds But Oversupply Concerns Persist -- Market Talk
Saudi Arabia is waging a price war, and two major US Shale Oil giants have announced cuts in capital expenditures. Has the production of Shale Oil in the USA reached its peak?
The major USA shale oil companies Diamondback Energy and Coterra Energy have both stated that they will reduce their capital budgets for 2025 and decrease the number of drilling rigs. Diamondback Energy CEO Travis Stice warned: "Due to the reduction in drilling rigs, the USA onshore oil production is likely to have peaked and will begin to decline this quarter."
OPEC+ Production Hike Ratchets up Global Oil Oversupply, Morgan Stanley Says
Oil Prices Slide Over US$2 As OPEC+ Accelerates Output Hikes
Energy Down Alongside Oil Futures -- Energy Roundup