scorecardresearchOil Holds Gains as US Adds to Tightening Global Supply Outlook

Oil Holds Gains as US Adds to Tightening Global Supply Outlook

Updated: 24 Aug 2022, 08:46 AM IST
TL;DR.
Oil held gains near $93 a barrel following an industry report that signaled shrinking US crude stockpiles, adding to a tightening supply outlook after Saudi Arabia flagged possible production cuts.
FILE PHOTO: A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Picture taken November 22, 2019.   REUTERS/Angus Mordant/File Photo

FILE PHOTO: A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo