Nymex’s crude oil inched down 0.04% to US$47.81 per barrel in Asian trading this early morning trade. The lower oil inventory in the United States, the increase oil supply from Saudi Arabia to Asia, and OPEC’s plan to cut production are the current issues for oil market development. While oil production in the U.S. rose by 21,000 barrels per day, to 9.31 million barrels per day, the highest since August 2015. This increase ran consecutively in the past 13 weeks, the longest period of increase since 2012.To subscribe please click here
