Oil news and market movers: US stockpile slinks
- The US Crude stockpiles are decreasing. According to the US Energy Information Administration, stockpiles fell by more than 1.5 million barrels in the week ending March 8, against expectations of an increase. This adds to data from the American Petroleum Institute (API) released on Tuesday, which showed a decline of 5.5 million barrels in the same period.
- The International Energy Agency (IEA) sees room for OPEC to boost production by the end of 2024 under a supply deficit that starts to form. The IEA pencils in July as the moment when OPEC could fully unwind its production cuts.
- The US has held secret talks with Houthi Rebels on Red Sea attacks.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.