Surging Demand Squeezes Crude Supply – Vortexa

Global crude oil inventories dropped in August, reflecting “fundamental market tightness”, according to cargo tracker Vortexa.

Fresh cues of global oil demand growth in recent days are “not looking particularly bad,” Vortexa said in a report. “Stocks of crude and products, onshore and offshore, have been drawing and provide a limited cushion against future supply shortfalls,” it further added. 

Meanwhile, “OPEC+ barrels continue to arrive at a normal rate for now,...