Hope for production cuts were dashed early on as producers agreed to no change from the record high levels of production January - which Barclays says means 1mm bpd excess supply at current levels.
Hope for production cuts were dashed early on as producers agreed to no change from the record high levels of production January - which Barclays says means 1mm bpd excess supply at current levels. However, following a Genscape report suggesting a major 705k build in Cushing crude inventories, WTI just broke down to a $28 handle (down over 8.5% from overnight highs)...
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