After weeks of highs, American oil stocks fall

As has been reported by Panorama Offshore, US oil reserves have grown successively, however, last week this data was different. After nine consecutive weeks of consecutive increases, US oil inventories dropped by 237,000 barrels, according to data from the Energy Information Administration (IEA).

US crude inventories have been closely monitored by traders to see if the agreement reached among OPEC members has succeeded in reducing global oversupply and raising oil prices.

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