Oil prices climb on falling inventories and OPEC cuts.
TL;DR Summary
Crude oil inventories in the US fell by 4.346 million barrels, while gasoline inventories fell by 3.970 million barrels. WTI oil prices traded up on Tuesday, supported by OPEC+’s surprise production cut that will start in May. Brent crude was trading down slightly on the day, although up on the week. U.S. crude oil production fell to 12.2 million bpd for the week ending March 24.
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