• 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…

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