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API: US Oil Inventories Down 4.5 M Barrels

M. Ali 26 August, 2020 1:33 am Commodities, Market Update

Estimates by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States decreased by 4.5 million barrels last week.

This would be the fifth consecutive weekly decline in US crude oil stockpiles, amid output disruptions in the Gulf of Mexico due to Hurricane Laura.

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