Stocks of both crude and products jumped in the latest weekly data, despite slightly stronger refinery run rates. The apparent weakness of US demand and higher stocks will make it difficult for OPEC+ to decide to increase supply at its upcoming bi-annual meeting.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services