By Adam Wilmoth Energy Editor awilmoth@oklahoman.comOil prices surged for the third straight day Monday as new government data showed domestic production has slowed and OPEC said it wants "fair and reasonable" oil prices. The U.S. Energy Information Administration lowered its estimates for domestic production in June to almost 9.3 million barrels per day, down 250,000 barrels per day from earlier estimates and 100,000 barrels per day below its revised estimate for May. Also Monday, the Organization of Petroleum Exporting Countries said it is willing to talk to other producing countries and that it "will continue to do all in its power to create the right enabling environment for the oil market to achieve equilibrium with fair and reasonable prices,” the group said in its monthly bulletin. Domestic benchmark West Texas Intermediate crude jumped $3.98 to $49.20 a barrel.Read more on NewsOK.com

 

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