U.S. Crude Oil Production Decreases Last Week: EIA

U.S. crude oil production decreased during the week ending April 17, the U.S. Energy Information Administration (EIA) said Wednesday.

According to the EIA, U.S. crude oil production averaged 12.2 million barrels per day (b/d) last week, down by 100,000 b/d from the previous week.

Oil prices gained in volatile trading Wednesday with the U.S. benchmark settling 19 percent higher.

The West Texas Intermediate for June delivery rose 2.21 U.S. dollars, or 19.1 percent, to settle at 13.78 dollars a barrel on the New York Mercantile Exchange.

Brent crude for June delivery increased 1.04 dollars, or 5.38 percent, to close at 20.37 dollars a barrel on the London ICE Futures Exchange.