Oil Bulls Remain Resilient Despite Demand Doubts ...Middle East

OILPRICE - Economy
Oil Bulls Remain Resilient Despite Demand Doubts
source : OILPRICE ( Middle East ) () 23
News about deflation in China and a crude oil inventory build in the United States have added downward pressure to oil prices, but bullish sentiment remains robust. Reports of sharply lower U.S. oil exports contributed to a temporary slide in oil prices, as daily shipment rates fell from 5.28 million bpd two weeks ago to 2.36 million bpd last week, the Energy Information Administration reported Wednesday. At the same time, production rose, hitting an estimated 12.6 million barrels daily in the U.S., reinforcing the downward pressure on oil prices.…

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