Oil prices climb after drawdown in stocks, positive demand outlook


SINGAPORE, Sept 15 (Reuters): Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world's largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen.

But a fall in China's crude oil throughput in August with daily refinery runs hitting the lowest since last May, and overall factory output faltering, capped oil price gains.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Oil , Prices , HIgher , Stocks , Crackdown

   

Next In Aseanplus News

Asean news headlines as at 9pm on Tuesday (April 23)
Jokowi says transition to new government to begin soon
Chinese warships in Cambodia fuel fresh concerns as Wang visits
Thai actor Bright and singer Nene confirm they are dating
Rafizi: Economy continues to strengthen along with Bursa Malaysia
Murder in Spain: Limited edition sneakers worn by suspect match footprints at crime scene
Copter tragedy: 'Dad didn't speak much but he always took care of us'
Indonesia forms task force to tackle child pornography as millions of cases recorded
Copter tragedy: Families still reeling from loss
Copter tragedy: Friends see Lt Cmdr Wan Rezaudeen as a hero

Others Also Read