Inventory declines have brought prices to three-year highs
The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market.

In March 2018, OECD stocks declined by 27 million barrels to 2,819 million barrels – 214 million barrels below year-ago levels. This is the lowest level in three years, the IEA said.

Crude oil prices have risen by nearly 75% since June 2017. Because of rising prices, the IEA lowered its estimate for 2018 global oil demand growth by 40 MBPD ...

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