South Belridge Oil Field is the fourth-largest oil field in California and one of the most productive in the U.S.
David McNew | Getty Images
Crude oil futures extended gains on Wednesday after a bigger-than-expected draw in U.S. crude stockpiles and as solid U.S. and Chinese factory activity fueled optimism of a recovery from the pandemic, boosting investor risk appetite.
Brent crude futures rose 37 cents to $45.95 a barrel as of 0310 GMT, extending gains into a third day.
U.S. West Texas Intermediate futures rose 34 cents to $43.10, following the previous day’s gain by 15 cents.
U.S. crude inventories fell by 6.4 million barrels in the week to Aug. 28 to about 501.2 million barrels, the…