- Oil prices stage modest rebound after falling to the lowest levels since 2021
- Inflation data released today came in higher than expected, potentially lowering the odds of an outsized Federal Reserve rate cut
- The API estimates that inventories fell by 2.8 MMBbls last week, ahead of the official data release later today
- Citigroup said they see a “high-conviction surplus” in oil markets next year amid OPEC’s plan to return supply
- Libya’s Prime Minister vows to resolve oil shutdown (BBG)
- The Prime Minister said he wants to quickly resolve the standoff over the country’s central bank, which has resulted in oil production being halted in Libya
- In his first public remarks since the standoff began, he said, “We are ready for any solution, whether it’s for the central bank or the government”
- Libyan crude exports have fallen from 1.5 MMBbl/d on September 1 to 0.3 MMBbl/d, according to ship tracking data from Bloomberg
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