Oil Inventories Decline, Gasoline Stocks Surge
TL;DR Summary
Crude oil prices rebounded as the U.S. Energy Information Administration reported a 4.3 million barrel draw in inventories for the week to December 8. However, builds in gasoline and middle distillate inventories limited the price increase. Oil prices have been on a losing streak due to ample supply and projected growth in U.S. output next year. The EIA revised down its forecast for Brent crude prices in 2024, citing concerns about global oil demand growth.
Topics:business#crude-oil-prices#energy#gasoline-inventories#inventory-draw#middle-distillates#us-energy-information-administration
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