mynameisandhy Posted May 22, 2015 Author Report Share Posted May 22, 2015 WTI Oil Weakens Moderate, Ready to Record Increase In 10 Week Friday, May 22, 2015 Oil prices moved down on Friday after rising more than 2 percent in the previous session, boosted by low US crude inventories and geopolitical tensions in the Middle East. US crude futures were on track for the longest streak of gains since records began in 1983, helped by a decrease in the number of products and crude oil reserves last week, reflecting better demand in the countries with the largest consumption rate in the world. West Texas Intermediate oil for July move the range of $ 60.61 per barrel at 16.00 pm, a decrease of 11 cents on the day and get ready to record gains for the week to 10. Meanwhile Brent oil in July fell 17 cents to $ 66.37 a barrel after closing up 2.3% on Thursday. Analysts at ANZ said that the data on Wednesday from the Energy Information Administration showed a large decline in US oil product reserves, indicating strong demand from end users. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted May 25, 2015 Author Report Share Posted May 25, 2015 End Oil Gain 9-week, Depressed Strengthening Dollar Monday, May 25, 2015 Crude oil prices fell nearly 2%, ending a nine-week streak of gains, amid Greenback rally and profit-taking before the long weekend in the US. The high exchange rate of the greenback makes dollar-denominated commodities such as crude oil becomes more expensive for holders of other currencies. Trader also said oil tends vulnerable to profit-taking after a gain of 6% for two days. In addition, crude oil investors are also worried about the continuation of decline in drilling activity after a rebound in crude oil prices since April. Baker Hughes reported the number of active rigs in the US is only reduced by one rig in the week as well as a sign of decline in drilling activity during the 6-month coming to an end. American Automobile Association said land travel in the US is predicted to reach 10-year highs throughout the long weekend with the Memorial Day holiday on Monday. Fuel consumption is expected to rise for 3 days, but analysts assess the impact will not be great because oil inventories are still very high. WTI crude trading ends at the level of $ 59.99 per barrel, daily lows near $ 59.35 to $ 60.80 daily highs. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted May 26, 2015 Author Report Share Posted May 26, 2015 Stable, Oil Prices Will Probably Stop Rally Tuesday, May 26, 2015 Crude oil prices more or less flat at the beginning of Tuesday's session, the sturdy as the level of demand to shore up prices and excess supply push prices down, but analysts say that there is a signal that the recent oil rally may begin to fade. The high level of demand in Asia and also the driving season in the United States are confronted with an output that is near a record high, mainly from the Organization Of Petroleum Exporting Countries (OPEC), although the level of oil production in the US seems to have reached its peak, at least temporarily. Analysts said that prices probably will not rise too much from current levels. According to economists, the crude oil market gets strut of reports decline in production and supply of crude oil last week but prices failed after re-testing the high level reached at the beginning of the month. Recent oil price rally may begin to subside as oil prices WTI reached the level where producers can operate profitably. The fact that WTI price level approaching LRMC (long-run marginal cost) for new investments signify that the rally in oil prices may not have a lot of space, according to analysts. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted May 27, 2015 Author Report Share Posted May 27, 2015 Crude Oil Slump More Than 2% Wednesday, May 27, 2015 Crude oil closed down more than 2% on Tuesday, pressured by the possibility of going back to increased activity in the US shale oil producer and the strengthening of the US Dollar. Data released Friday showed the number of drilling rigs declined by only 1 throughout last week, prompting speculation about a rebound in US oil production and eroding the prospects of tightening oil market in the coming months. While the appreciation of the dollar often bring pressure on commodity prices denominated in US currency, including oil. In addition, sentiment was also depressed by several other factors such as growth in supply from OPEC, Saudi Arabia and Iraq where record production, the risk of a return to normalcy oil supplies from Iran, as well as some of the signs of stress in the physical market. Going forward, investors will await OPEC meeting on June 5 in Vienna and indications of supply response from Saudi Arabia and other major oil producers. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted May 28, 2015 Author Report Share Posted May 28, 2015 Stay tuned for US oil inventories data Thursday, May 28, 2015 Ahead of the opening of the US trading session, WTI crude oil stuck on the lowest level of the month, market participants await US crude oil inventory data this evening. American Petroleum Institute (API) on Wednesday reported US oil inventories rose 1.3 million barrels last week. Became the first such increase after declining in the previous three weeks. Energy Information Adminstration inventory data will be released this evening, if the release of the data also showed an increase, then it could be a signal of US shale oil production began to recover, after experiencing a period of contraction. Dollar rally in the last few days making oil fell in four consecutive days until Wednesday. The price of oil is denominated in dollars more expensive for holders of other currencies, so as to reduce demand. Additionally projection from Goldman Sachs predicted oil prices will reach the level of $ 45 per barrel in October also give negative sentiment for oil. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted May 29, 2015 Author Report Share Posted May 29, 2015 EIA Reports Encouraging Oil Price Recovery Friday, May 29, 2015 Crude oil prices rose on Thursday as US crude stocks recorded a weekly decline in the 4th row, indicating if the US oil market began to find a balance after experiencing excess supply in the long term. Report of the Energy Information Administration (EIA) showed crude oil inventories decreased 2.8 million barrels last week, compared with expectations for a 1.5 million barrel decline. The data also helped 'black gold' rose from pressure triggered by the US dollar rally in the last 10 days. Oil prices also drawn support from the disastrous forest fires in Canada, which forced the evacuation of the several fields of oil and gas production. The fire has caused energy companies operating in Alberta, the largest source of US oil imports, to stop production of 233,000 barrels per day, or about 10% of total Canadian oil output. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 1, 2015 Author Report Share Posted June 1, 2015 Production expectations OPEC Oil Price Press Monday, June 1st, 2015 The crude oil market weakened again after the biggest rally in a month occurred on Friday last week. Crude oil prices fell in the beginning of the week as expectations OPEC production will remain high after an increase in May. Investors worried that the high OPEC production will add to the flood of global oil supplies as well further depress oil prices. OPEC will meet in Vienna on Friday, and the market predicts tesebut oil cartel would maintain production levels above 30 million barrels per day. Towards the end of trading on Friday, crude oil prices rose 5% and become the largest rally in a month. Investors enthusiastically responded to the report of US oil producer, which disables 13 rigs during the last week, based on data collected by Baker Hughes. It marked the 25th straight week decline and become the biggest drop in four weeks. Market participants expect a decrease in the number of rigs into signals manufacturers still holding down the rate of production and its impact also lowered production. At 10:50 pm, the price of crude oil was at $ 59.83 a barrel, near the lowest prices daily $ 59.72 to $ 60.27 daily highs Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 2, 2015 Author Report Share Posted June 2, 2015 Oil Rises Ahead of OPEC Meeting Tuesday, June 2nd, 2015 The weakening dollar on perdagngan today able mengdongkrak oil performance ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) on Friday. OPEC members will meet in Viena to decide the amount of oil production within the next six months. Analysts expect OPEC will maintain its oil production quantities. The release of economic data were better than estimates from the United Kingdom, and the eurozone make the exchange rate of sterling and the euro strengthened against the dollar. The dollar index against major currencies weakened about 0.6%. Depreciation diollar favorable for the dollar-denominated commodities such as oil. Other positive sentiment came from Saudi Arabian Oil Minister who said that oil demand will rise in the second half of this year, while supply will be reduced, and a sign of the success of Saudi Arabia's strategy to maintain market share. WTI crude oil traded the range of $ 61.13 a barrel at 18:34 pm, with daily lows $ 60.07, and the highest $ 61.13 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 3, 2015 Author Report Share Posted June 3, 2015 Oil Return worry Excess Supplies Wednesday, June 3rd, 2015 Crude oil prices fell slightly on Wednesday as the excess supply back kecemasna pervaded the market, with OPEC is not expected to announce cuts production levels at a meeting Friday. The core member states of the Organization of the Petroleum Exporting Countries (OPEC), which controls more than 40% of global oil production, has an agreement to maintain oil output at a meeting this week, according to one senior OPEC delegate told Reuters in Vienna on Tuesday. According to these sources, there is an agreement between the member states and other OPEC to maintain production limits, and it seems no one wants to argue the agreement. The high level of production from OPEC, and also other countries such as the type of shale oil producer in the United States and Russia, have contributed to the current oversupply on the market and create a tanker containing millions of barrels of oil without a buyer. Some analysts say that the chances of OPEC cuts production targets are still there. According to Barclays, with increasing geopolitical risks that threaten oil supplies from the Middle East and North Africa, it appears that OPEC may not be memangkasn quota production, but the increase is still possible. Meanwhile Citi analyst said this week that given the OPEC expected to maintain his output, global oil surplus will last until 2016. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 4, 2015 Author Report Share Posted June 4, 2015 Oil Shadowed Negative Sentiment Ahead of OPEC Meeting Thursday, June 4th, 2015 Crude oil prices plunged about 2.5% on Wednesday as traders and investors ignore the drop in weekly stocks for the 5th consecutive week, and more focused on distillate oil inventories surge in the middle of the peak driving season in the US. Energy Information Administration (EIA) said crude inventories fell 1.95 million barrels last week, exceeding the estimated decline of 1.7 million barrels in a Reuters survey. But stocks of distillate fuel, which include diesel and heating oil, rose 3.8 million barrels reported or nearly 4 times the 1.1 million barrel increase forecast. In addition, the market also overshadowed the bearish sentiment ahead of the meeting of the Organization of the Petroleum Exporting Countries on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any pressure to reduce output and continues to produce about 2 million barrels per day above demand Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 5, 2015 Author Report Share Posted June 5, 2015 Collapsing oil ahead of OPEC meeting Friday, June 5th, 2015 Oil slipped on Friday approached its lowest level in the past week as expectations OPEC meeting results will still maintain its output targets unchanged. Overall the price of oil has risen more than 30% in the last 2 months, but the rally began to fade and prices entered a phase of consolidation in the past two weeks. Although most observers predicted OPEC will not change production quotas, but the OPEC meeting will still be examined for clues OPEC step further. OPEC's last meeting on November 4, the oil producers' cartel is surprisingly still maintaining its production target at 30 million barrels per day despite the sharp fall of oil prices. So far the price of US crude oil futures fell -0.67% to $ 57.61 per barrel after reaching its highest point in the $ 58.16 intraday and daily lows at $ 57.26 per barrel Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 8, 2015 Author Report Share Posted June 8, 2015 Flooded Negative Sentiment, Oil More Cheap Appreciated Monday, June 8, 2015 Crude oil prices tracked lower on the trading session on Monday. Almost no positive sentiment that supports the movement of the price of 'black gold' over the past few sessions. Organization of Petroleum Exporting Countries (OPEC) as expected did not cut the amount of production in a meeting last Friday. This makes investors have no reason to enter the crude oil into its investment portfolio. The situation got no support price movement after the data import Chinese energy released at low levels. That is, there is no strong indication that the second largest consumer of the world's major oil and gas supply memburuhkan amid slowing economic climate is going through. Predicted even more affordable price in the next few weeks because there is a strong signal the achievement of a peace agreement between Iran and the United States about the lifting of the embargo. If the western sanctions actually withdrawn on 31 June, the supply of Iranian oil will return to flood the world energy market so that the number of global supply increases dramatically. Though some major consuming countries do not need a supply of oil in bulk. While the United States is already quite comfortable with shale oil deposits of its gas. On the New York Mercantile Exchange, light, sweet crude oil for July delivery was observed at the price of $ 58.56 per barrel, down around $ 0.57 compared to prices in the Globex electronic session. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 9, 2015 Author Report Share Posted June 9, 2015 China Reduce Imports, Oil Weakens Tuesday, June 9th, 2015 WTI crude oil fell about 2% on Monday weighed a drop in demand from China, and concerns about OPEC's decision maintains the amount of production may extend the period of excess supply of oil. Nevertheless, the weakening dollar is able to limit the decline. China which is the largest oil importer in the world, reduced by a quarter the number of imports in May from April. OPEC on Friday said it will maintain production of 30 million barrels per day. In fact, the members of OPEC oil production exceeds demand, thereby increasing the excess global oil supplies. Meanwhile Morgan Stanley noted, focused attention on how quickly Iran into the oil market when the trade embargo lifted if the Tehran government is able to fulfill an agreement with the West on the nuclear issue. WTI crude oil trading on Monday closed at $ 58.26 per barrel, with daily highs and lows $ 59.13 $ 57.86 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 10, 2015 Author Report Share Posted June 10, 2015 Crude Oil Markets Optimistic Before EIA Data Wednesday, June 10, 2015 The crude oil market back optimistic after reports a sharp drop in US crude inventories and a positive response to the belief giant oil cartel would supply floods recede in some quarters. Furthermore, investors are awaiting confirmation of a decrease in crude oil inventories in the US from a government agency, the Energy Information Administration (EIA). Association of the largest oil and natural gas the US, the American Petroleum Institute (API) reported a decline in US crude inventories by 6.7 million barrels to 473.1 million barrels last week. This number is much larger than analyst expectations for a 1.72 million barrel reduction. Investors are now preparing for the official data from the EIA which is also expected to report a drop of oil to then be able to give further impetus to the strengthening crude oil prices. Organization of Petroleum Exporting Countries (OPEC) publishes its monthly report on Wednesday (10/6). OPEC is optimistic demand will grow as lower global crude oil prices. OPEC also assess the country's production of non-OPEC countries only around one third of production growth in the past year as the impact of high operational costs are not balanced by lower selling prices. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 11, 2015 Author Report Share Posted June 11, 2015 IEA: Global Oil Demand Will Increase in 2015 Thursday, June 11, 2015 Global oil demand for 2015 will be higher than previously forecast as economic growth, weather conditions colder winter in many major consuming countries and oil prices lower encourage consumption in the first half of this year, according to the International Energy Agency on Thursday , In its monthly oil market report, the IEA estimates that global demand will increase by 1.4 million barrels per day to an average of 94 million barrels per day for this year. The figure of 300,000 barrels per day higher than last month's projection. But global demand, which increased by about 1.6 million barrels per day from a year earlier in the first half of 2015, it is predicted will only grow by 1.2 million barrels per day in the 2nd half of this year. IEA also claims that demand growth may not have been sufficiently offset the inventory continues to rise. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 13, 2015 Author Report Share Posted June 13, 2015 Weakened Oil Market Data Release Approaching Baker Hughes Friday, June 12th, 2015 The exchange value of the dollar turned lower after US economic data was not able to give a boost to strengthen oil prices. Crude oil is denominated in US Dollar will typically get a boost in the strengthening of the exchange rate decline in the Greenback. Dollar exchange rate lower would make crude cheaper for holders of other currencies. Crude oil markets worried about a potential flood of global crude oil supplies were already abundant. Saudi Arabia to discuss will provide additional supplies of crude oil with its Indian consumers and this means that exporters of the Middle East will add a record production in the month of May to reach 10.3 million barrels per day. Replenishment of inventory in the market has reached a saturation point may depress the price of crude oil is now only 45% of the highest price achieved a year ago. Investors are increasingly nervous about approaching the release of the data the US drilling activity of the company Baker Hughes. Data weekly number of active rigs in the US is expected to provide clues amount of crude inventories further. Now the number of active rigs in the US are in the lows level since August 2016 and up to the last week the number of active rigs declined for 26 consecutive weeks. Until at 22:42 pm, the price of crude oil was at $ 59.91 a barrel approaching daily lows $ 59.71, with daily highs $ 60.60 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 15, 2015 Author Report Share Posted June 15, 2015 Weaker oil in Early Week, Burdened Outlook Excess Supply Monday, June 15, 2015 US crude oil prices opened lower in early trading this week with a further decline after falling for two consecutive days on Thursday and Friday due to high global production imbangi stronger refining demand. Analysts of one of the banks in New Zealand on Monday said that currently there are points momentum for commodity markets will be weaker in the short term. Oil prices failed to survive in the key resistance level last week, although consumption remains high due to refinery margins healthy. Saudi Arabia, the largest oil producer in the world, gave instructions last week that they were ready to Raise production above the current record high levels to meet demand, if it is necessary. For the price of WTI oil futures, this morning moved down 16 cents to $ 59.80 per barrel Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 16, 2015 Author Report Share Posted June 16, 2015 WTI Oil Price Rises, Boosted By NHC Hurricane Warning Report Tuesday, June 16th, 2015 Crude oil prices rose after an initial warning on Tuesday, boosted by a warning that tropical storm heading coast state of Texas is an oil producer. US National Hurricane Center (US National Hurricane Center) issued a tropical storm warning on Tuesday morning at 09.00 am for the Texas coast from Baffin Bay region up to High Island. NHC said that based on estimates of the central tracker, diperkiaran the storm will reach the warning area along the coast of Texas on Tuesday morning and move inland from the southern to central Texas on Tuesday afternoon or evening, they also added that it is expected there will be strong winds, rain and some flood area. WTI Crude oil futures rose about half the range of $ 60 dollars per barrel in the afternoon, although the contract is still in the trend channel $ 57 - $ 62 per barrel which is tempatntya since early May. Brent oil rose 22 cents to $ 64.17 per barrel. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 17, 2015 Author Report Share Posted June 17, 2015 WTI Oil Prices Steady Ahead Of EIA Report Wednesday, June 17, 2015 US crude oil prices stable movement in trading Wednesday as US output is expected to peak in the near future and analysts see another decline in reserves. JP Morgan said in a weekly note on the oil that US production has posted new highs this week, but he also added that "we expect that US crude oil production will start to fall gradually starting this month, combined with strong demand data that may will produce a tight balance in 2015. Analysts of one of the banks in New Zealand said that investors are now shifting their focus to the EIA report, which might indicate another strong decline in reserves. US crude oil is estimated to have dropped as much as 1.7 million barrels last week, beradasarkan Reuters poll of analysts. Gasoline stocks expected to fall 300,000 barrels. US crude oil is currently trading at the range of $ 60.05 a barrel at 10:37 pm, almost unchanged from the last closing price and the trend channel $ 57 - $ 62 per barrel that has been in place since the beginning of May. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 18, 2015 Author Report Share Posted June 18, 2015 Oil Crop Weakening Of Inventory Data Thursday, June 18, 2015 WTI crude oil fell on Wednesday, but managed to cut the attenuation caused by data showing a rise in inventories in the oil shipping hub in Cushing Oklahoma. Energy Information Administration (EIA) reported that crude inventories fell 2.7 million barrels in the week ended June 12. The drop was larger than analysts expected 1.7 million barrels, but fewer than report the American Petroleum Institute (API) days earlier which showed a decline of 2.9 million barrels. US oil inventories have dropped in seven consecutive weeks. EIA also reported gasoline inventories rose by 460,000 barrels, while analysts forecast a decline of 314,000 barrels, and the API reported a 2.7 million barrel decline. Oil managed to cut weaker after the dollar weakened following the decision of the US Federal Reserve maintain its monetary policy, and indicate the rate of increase in interest rates will be slower than previous poyeksi. WTI crude oil on Tuesday, closed at $ 59.77 per barrel, the highest level and the lowest $ 61.38 $ 58.85 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 19, 2015 Author Report Share Posted June 19, 2015 Oil Rise to Highest Level One Week Friday, June 19th, 2015 WTI crude oil rose on Thursday and rose to the highest level in a week, supported by a weaker dollar and a drop in US oil inventories in seven consecutive weeks. The dollar fell to a one-month low after the Federal Reserve disappointed the market is hoping for clarity mengenaikan time of rising interest rates. Data released on Wednesday by the Energy Information Administration showed oil inventories fell 2.7 million barrels last pkenal, be the decline in seven weeks in a row. Domestic production also decreased, but inventories at Cushing Oklahoma, the delivery hub oil futures rose for the first time in the last five weeks, and gasoline inventories are also reported increases. Yet analysts still warn of the risk of price declines due to the global oil output is still high. Additionally on the terms of the data reported by EIA on Wednesday, analysts memperkitakan increase oil consumption is not likely to last long. WTI crude oil on Thursday closed at $ 60.45 per barrel, with a $ 60.89 daily highs and lows $ 59.25. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 22, 2015 Author Report Share Posted June 22, 2015 Oil Weakens More Than 1% Monday, June 22, 2015 Oil fell more than 1% on Friday, market participants predict Saudi Arabia's oil production will increase, while anxiety over energy demand continues to haunt amid protracted negotiations the Greek crisis and Iran's nuclear program. Platts survey earlier this month showed output from OPEC in May rose to 31.11 million barrels per day, largely triggered by the increase in the production of Saudi Arabia is 10.15 million barrels per day. Total production of the cartel exceed the limit established itself as much as 30 million barrels per day. Market participants are also awaiting news of Iran's nuclear discussions ended 30 June. Iran will be able to export more crude if an agreement is reached, and the potential to increase global oil supplies. Meanwhile the company Baker Hughes reported that the number of rigs operating in the US back is reduced as much as 4 to 631 last week. In the same period last year, the number of rigs in operation as much as 1,545. WTI crude oil trading on Friday closed at $ 59.37 per barrel, with daily highs $ 60.56, and the lowest was $ 58.88. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 23, 2015 Author Report Share Posted June 23, 2015 Risk sentiment Appetite Inter Oil Market Higher Tuesday, June 23, 2015 Crude oil prices ended higher as investor optimism oil inventories in the US will back down in the eighth week and the Greek debt negotiations impasse will end. US crude inventories have been reduced to 23 million barrels during the week ending seven on June 12. Decline in eight consecutive weeks will mark the longest series of reductions since January 2008. Oil investors await the release of official data from the US on Wednesday, after Genscape reported nearly 2 million barrel decline in inventories at the center of the US oil shipments, Cushing. While the sentiment risk appetite improved after Greece's international creditors more confident a deal will materialize in the near future after the latest proposals Greece considered more comprehensively. The waning shades of uncertainty makes investors more confident to invest in riskier assets such as oil and stock markets. WTI crude trading ends at the level of $ 60.23 per barrel, near daily highs at $ 60.60 to $ 59.25 daily lows. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 24, 2015 Author Report Share Posted June 24, 2015 API: US Crude Oil Reserves Fall 3.2 Million Barrels Wednesday, June 24, 2015 American Petroleum Institute on Tuesday night reported that crude supplies fell as much as 3.2 million barrels the week for the period ending June 19, according to sources. Analysts surveyed by Platss expected to decline 2.3 million barrels. WTI oil prices in August contract was at $ 61.14 in electronic trading this morning, up slightly from $ 61.01, the closing level on the Nymex. Investors currently menantika crude oil inventory report from the Energy Information Administration at 21:30 pm tonight. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted June 25, 2015 Author Report Share Posted June 25, 2015 Increased Production, Oil Prices Fall Thursday, June 25, 2015 Crude oil prices ended lower after a report covering oil products report a decline in US crude inventories for eight consecutive weeks. Crude oil prices ended at the level of $ 60.14 per barrel, with a $ 61.54 daily highs and daily lows $ 59.78. Energy Information Administration (EIA) reported a drop of 4.9 million barrels of crude oil inventories for the week ended June 19. Higher than the market forecast a reduction of 2.3 million barrels and the American Petroleum Institute (API) reported a 3.2 million drop in crude inventories in the US for the same period. However, the crude oil market reacted negatively to the inventory data. Meanwhile, US oil production, excluding Alaska, rose 76,000 be 9.19 million barrels per day. Total US oil production rose from 9.6 million barrels per day. The consistency of this signaling increased production of crude oil price outlook is still likely bearish Quote Link to comment Share on other sites More sharing options...
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