Oil prices eased on Monday after rising 2% in the previous session, as investors focused on short-term demand concerns stemming from crucial upcoming U.S. inflation data and refinery maintenance in Asia and the United States.
of Azerbaijani oil exports on Sunday at Turkey's Ceyhan terminal also relieved supply concerns, said analyst Tina Teng at CMC Markets.
in March by 500,000 barrels per day , or about 5% of output, in retaliation against western curbs on its exports that were imposed in response to the Ukraine conflict. Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore, said the 500,000 bpd cut would bring Russia back in line with its OPEC+ quota as Moscow is currently over-exporting.
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