Oil prices rose more than 1% on Tuesday after the main U.S. energy forecasting agency predicted shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
Brent futures rose 53 cents, or 1.7%, to $32.27 a barrel by 0420 GMT after settling 0.8% higher on Monday. U.S. West Texas Intermediate (WTI) crude was up 32 cents, or 1.4%, at $22.73, having dropped 1.5% the previous session.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.