Oil Prices Climb As Traders Refocus On Fundamentals

Bullish sentiment is building in oil markets as U.S. inventory levels continue to drop while OPEC+ production and export cuts are expected to be extended.Friday, September 1st, 2023Continuous US stock draws equivalent to a 1 million b/d decline over the past five weeks have led to an unusually tight oil market in the United States, adding upward pressure to oil prices despite economic woes. Widespread expectations of OPEC+ extending production and export cuts as well as recovering Chinese manufacturing activity have added to the bullish sentiment,…