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Oil rises after drop in U.S. crude stocks suggests demand pickup

  • 📰 Reuters
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

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Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.

FILE PHOTO: The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. REUTERS/Alexey Malgavko

Crude inventories dropped by 8.2 million barrels to 537 million barrels, against analysts’ forecasts for a draw of 710,000 barrels. The 13-member grouping produced an average of 22.62 million barrels per day in June after they agreed to cut output, a Reuters survey found, down 1.92 million bpd from May’s revised figure.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

What changed from “ news “ 28 hours ago . All BS !

In other news Twitter stock continues to dive even though the NASDAQ hit a record high and the Dow Jones has nearly recovered from a 'pandemic' shut down

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 /  🏆 2. in KR

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Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Oil prices slip as weak Japan data exposes market jitters over fragile demandOil prices fell in early trade on Tuesday after weak Japanese industrial production data, not usually a market-moving factor, was enough to jangle trader nerves over a bumpy recovery in fuel demand as coronavirus pandemic restrictions ease. Oil prices slipped on oily surface. F*ck the market. Seriously. They drive bikes over there. Please Stop!! $Spy
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