Weather Report
18℃
Friday, April 26
While a loss of 4.333 million barrels was projected for the week, API had reported a draw in oil inventories of 4.079 million barrels, largely in line with analyst predictions for a draw of 4.333 million barrels.
While Nigeria had set a budget benchmark of $57 per barrel for the 2022 budget, and higher crude oil production at 1.88 million barrels per day (bpd), the latest OPEC decision authorised the nation to produce 1.829 million barrels per day from 2022.
Source: CrudeToday With a record $7 slide in less than two days, API had reported a build in crude oil inventories of 806,000 barrels for the week ending July 16, bringing the total 2021 crude draw to under 50 million barrels.
Energy Information Administration had reported that U.S.
oil production increased by 100,000 bpd to an average of 11.4 million bpd for the week ending July 9..
Read Full Story
