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Surging U.S. oil production pushes reserves to highest levels in 30 years

Surging oil production has put the United States on track toward greater energy independence, pushing US reserves to their highest levels in 30 years. But analysts say bottlenecks in the distribution system are keeping oil from reaching markets. US oil stocks reached 395.3 million barrels last week, a level not…

U.S. oil production and stocks surge while demand remains anemic

US oil stocks reached a new three-decade high and pressed crude prices lower Wednesday, as US oil production continued to surge while domestic demand remained anemic. US commercial stocks stood at 395.3 million barrels for the week ended April 26, the highest weekly inventory figure since the US Energy Information…