11 APR

OPEC looks like it’s won the battle to rebalance the crude market

Ulet Ifansasti/Getty

Despite growing US shale supply, it looks like OPEC’s attempts to rebalance crude markets has succeeded.

As seen in the chart below from the Commonwealth Bank, stockpiles of oil inventories held by OECD nations is now back at the average level seen over the past five years.

See the rest of the story at Business Insider

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