Sentences with phrase «oil inventory draw»

Not exact matches

Last year, oil demand growth surprised a bit on the upside, helping bloated inventories to draw down significantly.

Analysts now believe a strong bounce in oil prices is due as inventories have been drawing at a «phenomenal» pace.

As WTI enjoys the first meaningful price rise since this spring, and a day after the API injected further optimism in markets by reporting a 761,000 - barrel draw in U.S. crude oil inventories, the EIA added fuel to the celebratory mood.

According to a report, OECD oil inventories for the first time in 3.5 years have fallen below normal because of a massive inventory draw of 46 million barrels in February which is six times the normal draw rate.

Related: Oil Prices Slip Despite Modest Draw In Crude Inventories

This week's crude oil inventory build takes away from the previous streak of draws that saw almost 50 million barrels removed from inventory, according to API data.

American Petroleum Institute (API) crude oil inventory data Oil inventory build of 2.6 mln barrels Cushing draw of 319K barrels Gasoline -1.94 mln bbls Distillate -95 K bbls The survey expectations Continue Readoil inventory data Oil inventory build of 2.6 mln barrels Cushing draw of 319K barrels Gasoline -1.94 mln bbls Distillate -95 K bbls The survey expectations Continue ReadOil inventory build of 2.6 mln barrels Cushing draw of 319K barrels Gasoline -1.94 mln bbls Distillate -95 K bbls The survey expectations Continue Reading

The American Petroleum Institute (API) reported a draw of 761,000 barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 3.422 million barrels for the week ending September 22.

Healthy demand growth for fuel not only in emerging economies led by China and India, but also in Europe, is helping global inventories to draw down faster now, keeping the oil market on the right track towards rebalancing, according to industry executives who spoke at a conference on Tuesday.

The API released its data late Tuesday afternoon showing a draw in both total crude oil stocks and gasoline and a small build in distillate fuel inventories.

I am expecting a draw in crude oil stocks and a build in refined product inventories.

On another note, crude oil also extended its recent bullish move, with the WTI contract rising above $ 65, for the first time since early February, helped by the surprise inventory draw in the US as well.

Yesterday, oil prices were boosted by the EIA reporting a fresh draw in crude oil inventories for the week to May 12, at 1.8 million barrels.

Oil rally draws Trump's ire Oil prices reached three - year highs this week following a fall in US inventories and comments from Saudi Arabia targeting a price range of between $ 80 and $ 100 a barrel.

On Wednesday, Saudi Energy Minister Khalid al - Falih said — after meeting with his Russian counterpart Alexander Novak — that OPEC and non-OPEC producers are committed to do «whatever it takes» to draw the global crude oil inventories down to their five - year average.

The market was already moving upward on the back of this morning's EIA report, which reported a draw in crude oil inventories of 1.9 million barrels — the fourth draw in a week.

On another note, crude oil also extended its recent bullish move, with the WTI contract rising above $ 65, for the first time since early February, helped by the surprise inventory draw in the US as well.