Oil prices recovered on Wednesday as the EIA reported a significant reduction in crude oil inventories, reducing recent fears that the market was oversupplied.
Speaking of the EIA, it released a new report this week projecting U.S. oil production will reach 13 million barrels per day in 2020 – a 19% increase over the average in 2018.
The Texas House of Representatives passed House Bill 3557 which would make destruction of oilfield-critical infrastructure a felony offense.
This bill is a response to the protestors who have intentionally damaged pipelines in recent years, putting themselves and others in great danger.
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