Sentiment in oil markets is undeniably bullish, with WTI and Brent on course to post yet another weekly gain.Friday, July 5th, 2024Whilst market activity was relatively slim with US markets closed for Independence Day holidays, the triple combination of lower US crude, gasoline and diesel inventories have instilled hope in the market that summer demand wouldn’t be that bad after all.
Defying the White House’s snapback of sanctions, Venezuela managed to slightly increase its oil production last month to 922,000 b/d, up from 912,000 b/d in May, thanks to increasing activity in new drilling and well workovers. Alaska Sues the Biden Administration.
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