Inventory Draws Across The Board Push Oil Prices Higher ...Middle East

Oil prices climbed higher today, after the Energy Information Administration reported a crude oil inventory draw of 3.7 million barrels for the week to March 31. At 470 million barrels, inventories are about 4 percent above the five-year average for this time of the year, the authority said. Last week’s draw compares with a draw of 7.5 million barrels estimated for the previous week, which helped push oil prices higher. Of course, this week’s breaking news about OPEC+ deciding to reduce oil production by another million barrels daily…

Hence then, the article about inventory draws across the board push oil prices higher was published today ( Wednesday 05/04/2023 - 05:52 PM ) and is available on OILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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