A slump in demand for oil from refineries and another increase in production combined to boost US crude inventories last week for the first time since mid-November. At least part of the recent surge in oil prices has been driven by the persistent falls in US crude stocks over the last few months. We expect a continued rebound in inventories to put some downward pressure on prices in the first half of 2018.
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