CRUDE futures succumbed to selling pressure midweek amid persistent demand worries even as a key weekly industry report showed a bigger-than-expected drawdown in US crude inventories. Also traders were reluctant to take on large positions ahead of a meeting on Wednesday - before Upstream went to press - of a ministerial panel of Opec and allies led by Russia. The Opec+ group was mainly set to leview members' adherence to an agreed deal on output cuts designed to keep a floor under the faltering oil market in the wake of the Covid-19 pandemic. Ahead of the meeting, the alliance was seen as likely to maintain its output policy that currently calls for production curbs of 7.7 million barrels per day versus a record high 9.7 million bpd up until this month.
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