Saturday, May 17, 2025
U.S. crude oil inventories decrease by 2.0 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 1.6 million barrels

Weekly Crude Oil Storage as of August 14, 2020   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.5 million barrels from the previous week. At 512.5 million barrels, U.S. crude oil inventories are about 15% above the five year average for this time of year, according to the EIA crude oil and petroleum

OPEC+ meets to review compliance with oil cuts- oil and gas 360

OPEC+ meets to review compliance with oil cuts

Reuters DUBAI/LONDON/MOSCOW – OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, meets on Wednesday to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. OPEC+ is unlikely to change its output policy, which currently calls for reducing output by 7.7 million barrels per day (bpd) versus a record high 9.7 million