| Bunker buyers watching the key oil market drivers Friday received mixed signals as October all but drew to a close, with analysts undecided on whether Saudi Arabia, and the Organization of the Petroleum Exporting Countries (OPEC) as a whole, had increased or decreased their oil output. Even so, prices of Oman crude on the Dubai Mercantile Exchange closed the month marginally higher.
That's an increase of 1.3 percent from a year earlier and 0.3 percent more than the previous month. "Stockpiles of distillate and gasoline are expected to have fallen last week, suggesting demand was sufficient to soak up the extra supplies assuming refinery activity picked up", said the agency, predicting a decline of 1.88 million barrels in distillate stocks and a drawdown of 660,000 barrels in gasoline stocks in the same week...............................................Full Article: Source
|