Oil news and market movers: API drawdown must be massive
- At 20:30 GMT, the American Petroleum Institute (API) will release its weekly crude oil stockpile change number. In the previous week, there was a drawdown of 3.4 million barrels.
- Bloomberg reports that the issue concerning who should lead the Libyan central bank is set to be resolved soon, opening up the Oil output for the country.
- US Crude exports have found their way to India, with the US trying to push Russia out of its leading role as the main deliverer. According to ship-tracking data, nearly $1 billion worth of crude Oil has been delivered to India from the US, according to Business Standard news.
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