Oil crept higher on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand.
U.S. inflation data later on Wednesday will provide clues on the interest rate outlook in the world’s biggest economy. Nevertheless, forecasts from the U.S. Energy Information Administration and the International Energy Agency point to the market tightening into 2024.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: