Oil Powers to 10% Monthly Advance as Stockpiles Spiral Lower

Bloomberg2021-10-29

Oil is on course for a monthly gain of about 10% on sustained signs that consumption is outpacing supply, draining stockpiles. West Texas Intermediate was little changed after a volatile week that saw...

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janspants
2021-10-29
janspants
Ok
kwkw
2021-10-29
kwkw
Please like
- Bptan1973:
  Like done please like back
- lololol13:
  ok

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China is canvassing its oil refiners for solutions to its energy crisis, according to people familiar with the discussions. Among the questions asked were whether processors have the ability to ramp up their fuel production.\nWorld oil inventories will decline by an average of 1.1 million barrels a day this quarter, according to a person familiar with preliminary figures evaluated by a technical committee for the Organization of Petroleum Exporting Countries and its allies. The producer group, which has been resisting pressure from oil users to raise supply at a faster clip, meets next week to assess production policy.\nOil has been one of the standout performers among commodities of late as a gas-centered energy crunch has buoyed demand for petroleum products. Thus far, OPEC+ has argued that cautious monthly supply increases of 400,000 barrels a day are appropriate as risks remain. 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