Surprise Inventory Build Starts To Eat Into Oil Price Rally ...Middle East

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Surprise Inventory Build Starts To Eat Into Oil Price Rally
source : OILPRICE ( Middle East ) () 62
Crude oil inventories in the United rose this week by 3.618 million barrels, the American Petroleum Institute (API) data showed on Tuesday, with analysts expecting a 1.600 million barrel draw. The total number of barrels of crude oil gained so far this year is still more than 38 million barrels. This week, SPR inventory dropped for the sixth week in a row, shedding 2.9 million barrels for the week to reach 362 million barrels—the lowest amount of crude oil in the SPR since October 1983. U.S. crude oil production rose by 100,000 bpd during…

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