29 March 2017
US Energy Information Administration weekly reports changes in oil inventories in North America. This week report, scheduled on March 29th, at 2.30 p.m. GMT is likely to cause high volatility on market again.
The leading FreshForex analyst Catherine Main commented on the report as follows:
“Number of operating drilling platforms in US has increased again: number of horizontal drilling platforms by 15 units in a week, and number of vertical platforms by 8. In total there are 652 operating platforms in USA now, that is the highest since September 11th 2015. Considering this, we expect renewal of historical high of oil output in US.
Last week oil output increase triggered Brent and WTI quotes drop by 1%. This week it may happen again.”
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