Benchmark US oil has had a rough week after OPEC oil-producing countries revised down 200,000 barrels a day on Monday. its forecast for world crude consumption through the end of 2023 due to economic problems caused by the Russian invasion of Ukraine and the covid-19 lockdowns in China.
In addition, the oil cartel warned that oil faces “considerable uncertainties”.
Tuesday has so far been the only day that the WTI has closed in green after the alarms were triggered when a drone attacked an oil tanker loaded with diesel and linked to a well-known Israeli businessman when he was sailing through the Gulf of Oman.
However, what at first was seen as the possible start of a new escalation of tension in the region, finally faded when it was learned that it had only caused minor material damage and that Israel assured that it did not consider it an attack against the condition.
Investors have not reacted positively to the latest data released yesterday by the Energy Information Administration either. which revealed that US crude inventories fell 5.4 million barrels in the most recent week. EFE
Source: Ambito
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