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How are Oil Stocks Affected by Smaller Stockpiles?

How are Oil Stocks Affected by Smaller Stockpiles?

Oil stocks have performed in August because of the “re-balancing” of production with demand. Inventories fell by 500,000 barrels per day in July, with current stockpiles at just over 3 billion barrels. The United States Oil ETF (USO) is one stock having a good month....