crude oil prices

The International Energy Agency on Tuesday issued its oil market report for September. The short version is that demand is expected to decline further and so are crude prices.
Short sellers mostly shaved their positions in oil and gas stocks in the two-week reporting period that ended August 31. Falling crude prices may change their minds again, though.
Increasing oil production among OPEC+ partners and in the United States is keeping a lid on crude prices and new estimates do not see an end to the oil market glut until late next year or early 2022.
WTI crude oil has dropped nearly 9% early Tuesday as demand has slipped again, leaving bulging inventories and a prediction for continued low prices.
The International Energy Agency in its August oil market report said that demand in 2021 would rise more slowly than it had previously expected.
Oil and gas giant Chevron reported a second-quarter loss that was larger than analysts expected along with revenue that fell short of estimates.
Short interest in oil and gas stocks slipped a bit in the two-week period that ended June 30. Crude prices have been relatively flat for about six weeks.
The International Energy Agency now forecasts a demand decline of nearly 8 million barrels a day in 2020, largely due to the COVID-19 pandemic.
In the two-week short interest period that ended June 15, oil and gas stocks mostly saw declines in short selling, but share prices fell off a cliff for most.
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