Commodities Oil prices slip on concerns US-China trade deal may not boost demand Updated : June 01, 2020 02:19 PM IST US Treasury Secretary Steven Mnuchin said late on Tuesday that the tariffs would remain even as a trade deal is set to be signed on Wednesday. US oil production is expected to rise to a record of 13.30 million barrels per day in 2020 mainly driven by higher output in the Permian region of Texas and New Mexico. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.