Oil production now seriously begins to fall

Oil prices have stabilized in step with an increasing number of flags on dramatic output reductions – but dramatic enough?

Almost symbolically, a storm gathers over the prairies of Oklahoma as a oil pump stands idle over a shut down oil well. | Photo: AP/Sue Ogrocki File

BY KELD LOUIE PEDERSEN

Since the total collapse on April 20, crude prices have rebounded to a more stable level, while commodity traders are waiting for more reliable data on global oil production development.

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