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US crude oil inventories fell by 11.12 million barrels in the week ending October 9, according to the American Petroleum Institute.
The IEA says UAE oil production reached a record 5.3 million barrels per day last month, with crude above 4.4 million bpd, as Abu Dhabi restored flows through the Strait of Hormuz and escaped OPEC+ caps after leaving OPEC in May.
(The Center Square) - The U.S. Department of Energy over the weekend authorized an emergency exchange of 4 million barrels of crude oil from the Strategic Petroleum Reserve to address