Oil prices fall for a second day as US crude inventories increase
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Oil prices fell for a second day after US crude inventories surged by 9.3 million barrels. Gasoline stocks, however, fell by 4.4 million barrels. The Organization of the Petroleum Exporting Countries and allies (OPEC+) is unlikely to make any oil output policy changes until a full ministerial gathering in June. OPEC+ members agreed to extend their output cuts of about 2.2 million barrels per day to the end of June. Russia has ordered companies to cut their output to comply with the target. Iraq's oil ministry also said it would reduce its exports to compensate for earlier overproduction. Traders are watching OPEC members for any sign they may be altering their stance on production quotas.

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https://www.investing.com/news/commodities-news/oil-prices-fall-for-a-second-day-as-us-crude-inventories-increase-3354214