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The Oil Price Drops On Rising US Inventories – 2017

By |2017-03-23T10:23:49+00:00March 23rd, 2017|Categories: Articles|Tags: , , , , |

In the first half of 2017, OPEC and non-OPEC producers agreed to reduce oil output by 1.8m barrels per day (bpd). The move has supported the oil price, but the expected drop in global oil inventories has not materialised. Now, after a calm few months, the oil price has fallen almost 10% to below $50 per [...]