Oil futures rebounded in Asian trade on Wednesday, buoyed by a less than expected build in crude oil stockpiles last week and a weakening dollar, but concern that a two - month Continue Reading (news.peak-oil.org)
Meanwhile, global oil stockpiles in developed countries could actually fall below the five - year average — the level OPEC is targeting — as inventories approach normal levels, oil demand potentially outstrips Goldman's estimate and OPEC possibly cuts output too deeply. (cnbc.com)
The American Petroleum Institute (API), an industry group, said after the market's close that U.S. oil stockpiles surged by nearly 13 million barrels last week. (reuters.com)