2024-05-03 13:29:00 ET
Summary
- Crude and product inventories are right around their seasonally adjusted averages for the past five years.
- A boom in U.S. production has replaced about one third of what OPEC cut.
- Slow growth in China often hits oil prices with a lag of about 12 months and may be among the factors preventing a further rise in global crude prices.
By Erik Norland
At A Glance
- Despite ongoing geopolitical conflict, oil prices and volatility are relatively low
- A rise in U.S. crude production and weak demand in China are helping oil inventories maintain average levels
Read the full article on Seeking Alpha
For further details see:
What Is Behind The Calm Oil Market?