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Oil prices rise on economic outlook, drawdown in fuel stocks

Oil prices rise on economic outlook, drawdown in fuel stocks

SINGAPORE (Reuters) - Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and U.S. fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month’s Texas storm.
Published 11 Mar, 2021 07:24am
Business
OPEC oil has advantage over U.S. shale during pandemic recovery

OPEC oil has advantage over U.S. shale during pandemic recovery

(Reuters) - The once-brash U.S. shale industry, which spent profusely in recent years to grab market share, is now focused on preserving cash, putting it at a disadvantage to low-cost OPEC producers as the global economy begins to gear up again.
Published 03 Mar, 2021 11:48am
Business
Oil optimism unwinding market's mad dash for storage

Oil optimism unwinding market's mad dash for storage

LONDON/NEW YORK/SINGAPORE (Reuters) - When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts.
Published 02 Mar, 2021 10:52am