Oil news and market movers: OPEC report deemed too optimistic
- The Energy Information Administration (EIA) also released its monthly Oil outlook and saw US demand plateauing while markets will remain in deficit due to the OPEC output cuts, according to Bloomberg reports.
- The American Petroleum Institute (API) reported a drawdown by 2.79 million barrels in its recent stockpile change of Crude Oil number on Tuesday. There was a small build of 0.7 million expected.
- At 14:30 GMT, the EIA will publish its weekly Crude Stockpile Change for the week ending September 6. A build of 0.9 million is expected following the previous draw of 6.873 million barrels.
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