FILE PHOTO: The moon rises behind the storage tanks of a local oil refinery in Omsk, Russia June 5, 2020. REUTERS/Alexey Malgavko
U.S. crude and gasoline stocks fell more than expected last week, while distillate inventories rose, data released by the American Petroleum Institute late on Tuesday showed. [API/S] “Investors would be keen to watch if the EIA ... matches or confirms the API data, which would be bullish for crude oil markets despite the increased concern about the spread of the coronavirus,” said Avtar Sandu, senior commodities manager at Phillip Futures.Also supporting prices was a drop in output from the Organization of the Petroleum Exporting Countries to the lowest in two decades in June.
“The fall in output means that OPEC over-complied with the deal in June, with compliance coming in at 107%,” ING Economics said, though noting that the over-compliance followed additional cuts by Saudi Arabia, the United Arab Emirates and Kuwait.“It is likely that compliance will slip again in July, unless we see a significant improvement in compliance from Iraq and Nigeria,” ING said.
போச்சு இந்தியால சும்மாவே ஆடுவானுங்க இப்ப சலங்கைய வேற கட்டிவிடறீங்களா
This could be a total lie and we wouldn’t know
It’s a Bitcoin ...
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