Oil Floods on Dangerous Inventory

oil storage

Crude oil prices have been raised higher today after the EIA abandoned the Weekly Petroleum Status Report, where the authority reported that oil oil recordings had dropped by 8.6 million barrels in the Thursday to 22 February, although they are still higher than the five yearly quarterly average.

This compares to raising a record of 3.7 million barrels for the previous week.

At the same time, the downs down down down 1.9 million barrels in the gasoline journals in the short term, compared to a 1.5 million barrel decline in the previous week. 300,000 barrel rubbish fuel shed in the week to 22 February and a week later organized a 1.5-million-barrel target.

Last week 15.9 million pd, according to 15.7 million pd, last week, according to 15.7 million pd, with a production of 9.6 million pd and gasoline production at 4.8 million pd . This compares to production rates of 9.5 million pd for gasoline and 4.8 million pd for impressive fuel.

Yesterday, prices went up after the American Petroleum Institute estimates the draw-up of unexpected inventory of the market, makes another week of surprise recordings. The measured API began to incorporate oil design at 4.2 million barrels.

At the same time, OPEC cuts still have a positive impact on the prices although President Donald Trump has a " Calls on OPEC to relax because prices for growth were too high. After Trump's tweet to OPEC, oil prices fell well, and surprised to do so; traders who had any reasonable rules left in the oil market.

Regardless of the registration rates in US storage facilities, however, the product is growing after being able to; A high 12-minute collision of two-day daily barrels. This main reason might be to keep it n; Emphasizing prices despite the size of OPEC's & # 39; cut. But it will stress its & # 39; Most of the prices of lightweight lightweight when it is heavy, OPEC is cutting and what Venezuela is doing; sell, climb higher.

Le Irina Slav for Oilprice.com

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