Around The Barrel – Crude Oil and Gasoline Inventories Outlook

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    EIA reported another build in crude storage, that’s…



    Houthi forces shoot down 2nd Saudi military aircraft

    BEIRUT, LEBANON (7:00 A.M.) – The Houthi forces announced on Saturday that they have shot down an unmanned drone over northern Yemen just a day after claiming to bring down a Saudi Apache helicopter, Yahya Sarea, the group’s military spokesman, said on Saturday.

    “Yemeni air defenses were able to shoot down a Chinese-made Wing Loong fighter reconnaissance aircraft in the Hiran district of Hajjah province this evening during hostilities”, Sarea said in a post in Twitter.


    [b]OPEC+ Monitoring committee meeting the JMMC about to begin
    Saudi energy minister says “keep praying” when asked if he expects a new OPEC oil production cut agreement today

    via @AlexLawler100


    [color=purple][size=5][b]OPEC deal is for cut of 500K bpd with Russia – delegate cited by Bloomberg
    A delegate cited by Bloomberg says the deal is for a 500K bpd cut.
    Not clear yet what the baseline is or if there are conditions.
    One report has said the cut is conditional on countries meeting current quotas.

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