Oil Erases Drop as U.S. Crude Inventories Drop Most Since March - Bloomberg

Oil Erases Drop as U.S. Crude Inventories Drop Most Since March - Bloomberg:

"Oil reversed an early decline after a government report showed U.S. crude and fuel inventories tumbled last week. Futures in New York were little changed after the Energy Information Administration said U.S. stockpiles declined 4.14 million barrels, the most since March, counter to an industry report showing an increase. Prices fell as much as 1.3 percent after Russia, which has already started increasing output, was said to suggest that OPEC and its allies be allowed to return production to October 2016 levels within three months, although not all nations would be able to do so."



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