Crude Oil sits 2% lower after China data fuels demand concerns amid US Fed rate cut hopes; Brent slips below $80/bbl

Bahrain’s Biggest Crude Oil Find Since 1932 Dwarfs Reserves

Gold Silver Reports (GSR) – Bahrain’s Biggest Crude Oil Find Since 1932 Dwarfs Reserves — The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s current reserves,” Bahrain News Agency reported, without giving figures. The country currently pumps about 45,000 barrels of crude oil a day from its Bahrain Field, and it shares income from a deposit with Saudi Arabia that produces about 300,000 barrels a day, according to figures from the U.S. Energy Information Administration.                                           

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