Oil steady ahead of OPEC meeting

Oil prices steadied on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, but under pressure ahead of a meeting of OPEC exporters which may increase global production.

U.S. crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to an American Petroleum Institute report on Tuesday.

Traders said a drop in Libyan supplies due to the collapse of an estimated 400,000-barrel storage tank also helped push up prices.
more detail at source: https://uk.reuters.com/article/uk-global-oil/oil-prices-edge-up-on-report-of-lower-u-s-crude-inventories-idUKKBN1JG01G

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