ICE June Brent settled up 13 cents at $27.82/b while NYMEX May WTI settled unchanged on the day at $19.78/b. Indications of a contraction in US crude supply placed a floor under prices Thursday. ConocoPhillips, the largest independent US producer, said Thursday it will cut back its 2020 spending and production volumes more dramatically, slicing its capital spending by 35% and removing a total of 225,000 boe/d from its production guidance. The US oil and gas rig count plunged by 74 to 567 the week […]