Global Oil Demand Dropped By Over 1 Million Bpd In July

Global Oil Demand Dropped By Over 1 Million Bpd In July

Global oil demand fell by an estimated 1.1 million barrels per day (bpd) in July this year the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. Historically, global oil demand normally rises rather than falls in July. The demand decline was driven by drops in consumption in China, India, Indonesia, developed … Read more

US Crude Inventories Fell To Lowest Level Since 2004 In June

US Crude Inventories Fell To Lowest Level Since 2004 In June

Crude oil inventories in the United States dropped by 21.8 million barrels to 915.8 million barrels in June, which was the lowest level since 2004, the latest data from the Joint Organizations Data Initiative (JODI) showed on Wednesday. Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels, according to … Read more