WSJ: Battered Oil Shows Signs of Life

By NICOLE FRIEDMAN

The expansion in U.S. oil production, a major driver behind crude’s nine-month slide, is close to slowing, some investors and analysts say. For April the EIA forecasts the smallest month-over-month gain in output from U.S. shale production since January 2011. However, few are likely to call a bottom – refineries in the Middle East and Asia will idle to perform seasonal repairs, potentially forcing more oil into storage.

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