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Murky oil inventory picture leaves market groping for clarity

Saturday, April 22, 2017 - 05:50

Over two years into a 50 per cent price slump, Opec and some other producers, including Russia, pledged to cut production by almost 1.8 million barrels per day (bpd) during the first half of the year.


THE jury is still out over whether an Opec-led (Organization of the Petroleum Exporting Countries) production cut aimed at tightening oil markets is working, or if the producer club has simply enabled higher prices without making much of a dent in the global fuel supply overhang.

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