Saturday, June 20, 2026
Oil drops below $70 as U.S. urges OPEC+ to pump more- oil and gas 360

Oil drops below $70 as U.S. urges OPEC+ to pump more

Reuters LONDON – Oil fell below $70 a barrel on Wednesday as the United States urged OPEC and its oil-producing partners to boost output, saying current production was not enough and could threaten the global economic recovery. The price of Brent crude is up 35% this year supported by OPEC-led supply curbs, even after oil last week suffered the steepest

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

U.S. crude oil inventories decrease by 0.4 million barrels

Weekly Crude Oil Storage as of August 6, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 438.8 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year, according to the EIA crude oil and petroleum