Key Points
LONDON (Reuters) -Oil prices held steady on Monday as U.S. efforts to replenish strategic reserves provided support, though concerns persist about oversupply and softer fuel demand growth next year...
The recent price weakness drew demand from the United States, which has sought up to 3 million barrels of crude for the Strategic Petroleum Reserve (SPR) in March 2024...
Despite the Organization of the Petroleum Exporting Countries (OPEC) and allies, together known as OPEC+, having pledged to cut 2.2 million barrels per day (bpd) of production in the first quarter, investors remain sceptical about compliance..
The latest consumer price index data from China, the worlds biggest oil importer, showed rising deflationary pressures as weak domestic demand cast doubt over the countrys economic recovery...
This week investors are watching for guidance on interest rate policies from meetings at five central banks, including the U.S. Federal Reserve, as well as U.S. inflation data for their impact on the global economy and oil demand...
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