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Commodities Briefing - Categorized | Market Moves, Oil more

Robust demand tightening oil market, IEA says

Posted on 14 February 2014

Stronger-than-expected demand has drained oil inventories to the lowest level since 2008, tightening the market and defying predictions of a glut, the West’s energy watchdog said on Thursday.
The International Energy Agency (IEA) said oil inventories in the developed world plummeted by 1.5 million barrels per day (bpd) in the last three months of 2013, the steepest quarterly decline since 1999………………………………………..Full Article: Source


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