Crude Oil advances $1.88/Bbl

September 16, 2020

Oil advanced $1.88/Bbl today in spot. 3 main factors supported the move higher: (1) The API and DOE showed inventory draws (2) Hurricane Sally has shut in 500KBpd and (3) the United Arab Emirates is promising to continue its October production cutbacks into November in order to achieve compliance with its quota. 

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