Surprisingly large decline in US stockpiles lifts oil
Brent rises after producers’ decision to extend output cuts fails to counter anxiety about the slowing global economy
03 July 2019 - 12:50
London/Singapore — Oil prices rebounded slightly on Wednesday after a steep fall in the previous session as Opec and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy.
Prices were supported by widely watched data showing a larger-than-expected drawdown in US crude oil inventories, with government data due later in the day...
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