Weekly Fundamental Oil Price Forecasts – IEA, OPEC Demand Forecasts Offset EIA’s Bullish Production Drop – FX Empire

Weekly Fundamental Oil Price Forecasts – IEA, OPEC Demand Forecasts Offset EIA’s Bullish Production Drop – FX Empire

US Energy Information Administration Weekly Inventory Report

In its weekly report, the US Energy Information Administration (EIA) reported that US inventories of crude oil, gasoline and distillates fell last week as crude production fell sharply and refiners increased production.

The most encouraging news in the EIA report was the drop in U.S. crude production to 10.7 million barrels per day,…

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