Soaring Demand Drives The Oil Prices Rally Higher

Chart of the Week-    New Mexico’s oil production hit a record high in March 2021, averaging 1.16 mb/d, and natural gas output hit 6.19 Bcf/d.-    The March increases were the largest monthly increases on record (although some of the gains came from restarted wells that shuttered during the February blackouts). -    In 2020, New Mexico’s oil production rose by 133,000 bpd, or 15%.    Market Movers•    BP BP is aiming to enter offshore wind in Norway.•  …