Tight U.S. Oil Inventories Prop Up Oil Prices

Author: External Author | | Categories: Oil Well Optimization , Oilfield Service Company , Oilfield Services , Oilfield Swabbing

U.S. oil demand and inventories have offered support to oil prices in recent months and, volatility excluded, have continued to do so, with stocks below the five-year average for this time of the year.  

While oil prices have swung in recent weeks between as high as $85 in late October to below $70 in late November amid fears of Omicron denting demand and a looming oversupply, lower-than-usual American stockpiles have been one constantly bullish theme for oil, especially the U.S. benchmark, WTI Crude. 

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Original Article Source Credits:   Oil Price , https://oilprice.com/

Article Written By:  Tsvetana Paraskova

Original Article Posted on:  Dec 19, 2021

Link to Original Article:  https://oilprice.com/Energy/Oil-Prices/Tight-US-Oil-Inventories-Prop-Up-Oil-Prices.html



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