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Inventory Draws Across The Board Push Oil Prices Higher ...Middle East
Oil prices climbed higher today, after the Energy Information Administration reported a crude oil inventory draw of 3.7 million barrels for the week to March 31. At 470 million barrels, inventories are about 4 percent above the five-year average for this time of the year, the authority said. Last week’s draw compares with a draw of 7.5 million barrels estimated for the previous week, which helped push oil prices higher. Of course, this week’s breaking news about OPEC+ deciding to reduce oil production by another million barrels daily…
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