Crude Oil Gained As The Forties Pipeline Outage In The North Sea

Crude oil trading range for the day is 3655-3723.

Crude oil gained as the Forties pipeline outage in the North Sea and voluntary production restraint led by OPEC supported prices.

Some upward pressure was taken off after an oil worker strike was called off in Nigeria.

U.S. shale production alone is expected to rise by 94,000 bpd in January, marking a 13th consecutive month of increases, the U.S. EIA said.

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