Oil Herring 3% On Screening United States, Saudi Riposte to Trump Le Investing.com

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Le Barani Krishnan

Investing.com – OPEC 2, Donald Trump 1.

Higher oil prices were higher on Wednesday after the most recent weekly weekly data; showed that there was a great deal of domestic suspicious inventory that certified OPEC product cuts and its opposition to the President of Scotland Donald Trump's; try to make the cartoons cartoon down; market is increasingly balanced.

Cows that were traded by York set up $ 1.44, or 2.6%, with $ 56.94 per barrel.

Trade between London rose from $ 1.25, or 1.8%, to $ 66.51 at 2:53 ET ET (19:53 GMT).

Energy Information Administration U.S. 8.65 million barrels fell per week to February 22 compared to a rebel for 2.84 million construction.

This is a & # 39; The first US stock was a six-week drop in, and # 39; come after the OPEC production cut off. In the previous week to 15 February, the balance of suspicion had risen up to almost 3.7 million barrels.

1.91 million barrel collapsed, compared to the expected EIA drawing of 1.69 million barrels.

, including diesel, down 0.3 million barrels, compared to projections for a decline of 1.95 million.

The exercise report was very similar to the extraordinary response from Saudi Energy Minister Khalid al-Falih, to Trump that the OPEC + group of 25 countries did not expect oil production over the kingdom and Russia to & # 39; Increase in product cuts, a month in the oil to be cool.

Both WTI and Brent make up more than 30% from Eve Eve's torch, and 25% or higher for 2019 after the OPEC + production cuts published on December 7 will be issued forever since the beginning of January .

Given these supply reductions, poor prices fell by 40% in the fourth quarter of last year.

Although an export market has made it easier to restore oil this year, it is another reason for revitalization; The market should be a declaration of Saudiism doubling down its promise cuts.

"We're making it easy," said Saudi Energy Minister Falih to CNBC Wednesday in answering the Trump Monday tweet to ask OPEC to "make it easy and easy".

Falih stated that current analysis shows that OPEC + could be & # 39; Extend to end of 2019 the agreement to abolish results. The union is again meeting in April to decide on further action.

Analysis was very much involved in the EIA report.

"The product was to include a total oil oil, as well as an oil export that was almost rated, more than 3 million barrels per day , "said Ian Kilduff, a partner based on the New York energy energy hedge fund again.

But some are still unbelievable in the long term.

"Time will tell us whether this weekly reduction will continue and a US symbol will represent a new 12.1 million barrel a day, which threatens to add against the invasive cuts in the Saudi, "said Tariq Zahir, who founded the New York oil fund of Tyche Capital Advisers.

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