Oil prices have been stuck near $40 a barrel since June as the outlook for oil demand was clouded by the reimposition of mobility curbs. Putting more downward pressure on prices was the resumption of Libyan oil exports as loading restarts following the easing of a blockade by eastern forces. Meanwhile, latest data from the EIA showed the US crude oil stockpiles fell by 1,001 million barrels in the week ended October 16th, while gasoline inventories unexpectedly rose by 1.895 million barrels.
