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YGRN - Open Insights: EIA's Weekly Petroleum Report (10/23/20)
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
We review EIA's Weekly Petroleum Status Report for the week of October 23, 2020.
Crude inventories decreased by 1M barrels (excluding SPR release) and petroleum products decreased by 6.2M barrels for an overall draw of 7.2M barrels.
Lockdowns in the EU/UK likely to impact demand anywhere between 1-2M bpd, but will be mitigated by increasing demand b/c of seasonality. OPEC+ likely to rollover cuts to Q1 2021.