Despite an Epic Rebound in Oil Prices, Some Producers Are Cautiously Keeping a Lid on Their Production
Crude oil prices screamed higher last month. WTI, the leading U.S. oil price benchmark, zoomed 88%, pushing back over $35 a barrel. That big-time bounce back gave several oil producers the confidence to restart oil pumps they idled earlier this year.
However, not all oil producers are ready to pump at full capacity just yet. That caution shows their skepticism in oil's recent rebound, which some producers think has gone too far, too fast.
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Source Fool.com
