Oil falls on surprise US crude stockpile build
Uncertainty about Russia’s commitment to deep output cuts ahead of a June 9 meeting Opec+ also weighed on prices
28 May 2020 - 12:43
London — Oil prices fell on Thursday after US industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries ease coronavirus lockdowns.
The decline in oil benchmarks extended losses on Wednesday over uncertainty about Russia’s commitment to deep output cuts ahead of a June 9 meeting of oil cartel Opec and its allies, including Russia (Opec+)...
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