Russia's Novak says global oil inventories are shrinking

Author: Mike Paterson | Category: News

Russian oil minister Novak back on the wires 13 Feb

  • shrinking despite rising US production
  • not expecting growth of US shale output to hinder market balance
  • ave oil price for 2018 seen closer to $60 bbl
Oil prices a little steadier this session after yesterday's retreat.

WTI $58.91 finding a bit of support around $58.80. Brent  $62.42 with support holding around $62.20 so far