Key Points
LONDON (Reuters) -Oil prices rebounded slightly on Wednesday, on supply tightness amid output cuts from major producers and remarks from the U.S. central bank chief that he still expects rate cuts later this year...
Oil prices were lifted by the announcement on Sunday that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) extended output cuts of 2.2 million barrels per day until the end of the second quarter...
That physical tightness was apparent as Saudi Arabia, the worlds biggest oil exporter, announced on Wednesday slightly higher prices for April crude sales to Asia, its biggest market...
The first of this weeks two U.S. inventory reports, from the American Petroleum Institute industry group, showed U.S. crude stocks rose by 423,00 barrels in the week ended March 1, market sources said, much smaller than the increase of 2.1 million barrels, expected by analysts in a Reuters poll...
U.S. oil refiners are expected to have about 1.5 million barrels per day (bpd) of capacity offline for the week ending March 8, increasing available refining capacity by 270,000 bpd, research company IIR Energy said on Wednesday...
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