- US business activity contracts in January
- US crude inventories rose by 3.4 million barrels – sources citing API
- OPEC+ is unlikely to adjust oil policy at the February 1st panel meeting
- Coming Soon: EIA Supply Report, 1530 GMT
LONDON, Jan 25 (Reuters) – Oil stabilized on Wednesday after falling in the previous session, as rising US crude inventories and global recession fears counteracted optimism for a recovery in Chinese demand.
Crude oil has rebounded in 2023, with global benchmark Brent crude topping $89 a barrel…