According to the bank, global stockpiles are shrinking by 8.7 mln barrels per day

Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe…

Global oil inventories are being depleted at a record pace as restricted Strait of Hormuz flows tighten physical markets and raise the risk of another price surge.

According to the bank, global stockpiles are shrinking by 8.7 mln barrels per day