WTI stalls upside below $72 amid IEA’s warning Oil Energy WTI Commodities
market report published on Wednesday, the International Energy Agency said that “current market pessimism stands in stark contrast to the tighter market balances for H2.”Despite Russia's announced 500,000 bpd supply cut, it may be boosting volumes to make up for lost revenue.OPEC+ oil supply will fall by 850,000 bpd while non-OPEC+ supply will rise by 710,000 bpd from April through December.China’s demand recovery surpasses expectations, hit record in March of 16 mln bpd.
. The US oil is trading at around $71.50, easing from session highs of $71.62, still up 0.29% on the day.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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