Friday, April 11, 2025
China

Oil Hits One-Month High: Markets Account for North Sea Outage, OPEC Compliance

Inventories build 1.6 million barrels, but prices hang on above $50 Crude oil prices continued to show improvements Wednesday even as the EIA reported builds in crude oil inventories. The agency reported an increase of 1.6 MMBO in stockpiles for the week ended March 31, 2017, despite a prediction from the American Petroleum Institute that inventories declined 1.8 MMBO week-over-week.