Saudi Arabia and Russia will be willing to go it alone, suggesting that some kind of market-managing efforts may remain in place, even if Iran and Iraq begin to sour on the collaboration. WTI Crude is $66.86; Brent is $75.46 this morning.
Analysts expect crude demand to grow by 1.4 million barrels a day in 2019. Strong economic growth will underpin growth in oil demand. WTI Crude is $66.96; Brent is $76.74 this morning.
U.S. crude inventories rose 830,000 barrels in the week of June 8, to 433.7 million. The International Energy Agency (IEA) expects global oil demand to grow by 1.4 million bpd this year and in 2019, topping 100 million bpd by Quarter 4 of 2018. WTI Crude is $65.98; Brent is $75.64 this morning.
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