• OPEC’s estimate of that oil production is anticipated to signify a decrease in August since the group’s biggest member, Saudi Arabia, pared output, sources told Bloomberg.
  • Crude futures are heading lower, however, dipping 0.5% to $47.85/bbl, as refiners during the U.S. often come back online after Hurricane Harvey forced these to shut down 2 weeks ago.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI
  • Now read: Weekly Oil Markets Recap – Not Once Energy Stocks Underperformed Oil

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