Rise in crude oil stock in US pushes oil down towards $40 a barrel
Opec+ agreed on Saturday to extend the record cut for another month until the end of July to bolster efforts to clear the oil glut
10 June 2020 - 12:05
London — Oil fell more than 1% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the US, reviving concerns about oversupply and weak demand due to the coronavirus crisis.
The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4-million barrels, rather than falling as analysts forecast...
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