SINGAPORE, SINGAPORE / ACCESSWIRE / June 9, 2021 / Jadestone Energy plc (the 'Company'), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide an update
Please see SP Angel’s Oil Market outlook for 2021: https://youtu.be/T222JHGzokI
Oil prices continue to rally as the API reported a draw in crude oil inventories of 2.1MMbbls yesterday for the week ending 4 June
Last week, the API reported a draw in oil inventories of 5.4MMbbls after analysts had predicted a draw half that size of 2.1MMbbls
Crude oil inventories have fallen by more than 14MMbbls since the start of this year, according to API data, but are still up 43MMbbls barrels since January 2020
While crude oil inventories fell yet again this week, US oil production fell to an average of 10.8MMbopd for the week ending 28 May, according to the latest data from the Energy Information Administration