Sunday, July 6, 2025
Oil falls on OPEC+ concerns over slow demand recovery- oil and gas 360

Oil falls on OPEC+ concerns over slow demand recovery

Reuters LONDON -Oil prices fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered their 2021 demand growth forecast, although strong Chinese factory activities lent some support. Brent crude for May, which expires on Wednesday, fell 49 cents, or 0.76%, to $63.65 a barrel at 1322 GMT. The more active Brent contract for June was

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 0.9 million barrels

Weekly Crude Oil Storage as of March 26, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.9 million barrels from the previous week. At 501.8 million barrels, U.S. crude oil inventories are about 6% above the five year average for this time of year, according to the EIA crude oil and petroleum