Crude Inventories News
Brent crude was up 1 cent at $31.13 a barrel by 0115 GMT, after rising nearly 7 percent on Thursday.
Crude climbs as storage fills less rapidly than feared; demand may pick up as some European countries, US cities ease lockdowns
While storage is rapidly filling up, production cuts by US shale producers, estimated by consultants Rystad Energy at 300,000 barrels per day (bpd) for May and June, should help slow flows into tanks.
Crude declines 4% to $28 on oversupply concerns; lack of coordinated oil purchases for strategic storage may hit deal
The IEA on Wednesday forecast a 29 million bpd dive in April oil demand to levels not seen in 25 years and said no output cut could fully offset the near-term falls facing the market.
Oil prices rise on OPEC-led supply cuts, report of falling US crude inventories despite pressure from Donald Trump
Crude oil has been rising lately, not due to strong growth and rising demand but primarily due to a politically orchestrated cut in production from OPEC and friends, said an analyst
Oil slips back toward 18-month lows on oversupply, global economy concerns; crude price falls 40% since October
Oil prices reached multi-year highs in early October but have fallen almost 40 percent since then and are now approaching their lowest levels for 18 months.
Traders will be watching for any deals to freeze or cut output when OPEC and non-OPEC producers meet in Algeria later this month