Around The Barrel – Crude Oil and Gasoline Inventories Outlook

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  • #22674
    TradersCom
    Keymaster

    EIA reported just the second draw in crude…

    [article]1866[/article]

    #22675
    MoneyNeverSleeps
    Participant

    Saudi oil minister Wants To see lower global oil inventories and price backwardation Before Raising Output

    with Reuters

    Jury still out on where oil market will be in March
    Wants to see 2 conditions before raising output – lower global oil inventories and price backwardation
    Wants to see inventories as close as possible to 2010-2014 average levels
    Would not consider pumping more oil unilaterally to punish other producers for not cutting enough
    Committed to continued cooperation with Russia beyond March
    Expects oil output resumption from joint fields with Kuwait very soon, will not impact OPEC cut commitments

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