OPEC is hoping Shale Oil loses steam and goes on the wane.
The report also stated that distillate inventories were up by 6.9 million barrels for the week, as against last week’s 5.1 million barrel inventories.
Brent crude futures gained 0.59%, at $35.96 per barrel, while the U.S. West Texas Intermediate (WTI) crude futures also gained 1.07%, at $33.85 a barrel.
