Oil Market Tries to Stabilize As Crude Supply Drops – 13 July, 2017

Oil markets are trying to stabilize as U.S. crude supply dropped the lowest in 10 months. Despite the price drops, the U.S. and China, the biggest oil consumers, are showing evidence that the demand for world oil is on the rise. Oil prices rose by 1.3 percent due to higher demand from China who’s bpd is up 8.55 million barrels per day, an increase of 13.8 percent  from the same time in 2016.