1. Recession Worries Wipe Out Most of OPEC+ Upside- Oil prices have been sliding for most of this week as weakening US labor market data play into wider fears of an oil demand slowdown in the US, aggravated by what many believe to be a technical gap-fill correction. - With WTI trading around $77 per barrel, it is truly a sign of times that there was no mid-week increase following a 4.
5 MMbbls build in US crude inventories and a 1.5 p.p. rise in refinery utilization, as slowing gasoline demand grabbed most of the attention. - Whilst shrinking oil…The Permian Is Set For A Wave Of Massive Deals
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