Shares of energy producers ticked down as oil futures gave back a modicum of their recent gains. Recent reports of U.S. oil production near a two-year high were offset by evidence of strong demand in China, a key market for energy commodities. Texas leads the way in rising oil production in U.S. shale regions, according to the Energy Information Administration. August oil output in shale areas is likely to rise 113,000 barrels of oil per day to represent more than half of total U.S. oil production. In China, meanwhile, domestic daily crude production was down 5.1% in the first half of the year compared to the previous year and imports rose 14%.
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(END) Dow Jones Newswires
July 17, 2017 16:35 ET (20:35 GMT)