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Global oil inventories up in May, June

Posted on 27 June 2012

Global oil inventories rose by an average of 1 million barrels a day in May and June, reflecting easing of tightness in the world oil demand, U.S. government forecasters said Tuesday.
The Energy Information Administration, in a report assessing oil market fundamentals in countries outside Iran, said “the global oil market has loosened” since the end-April report. EIA’s bimonthly assessments for Congress meet a requirement of legislation imposing stricter sanctions on Iran’s oil trade………………………………………..Full Article: Source

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