Last week US crude oil inventory unexpectedly fell 4m barrels, but oil price merely up 5%. Looking over the past 10 months, it has hit strong resistance at USD50. OPEC meeting is scheduled on coming Thursday, 2 June. Any new decision about oil production among OPEC shall decide the next move of oil price which hang at the juncture.
Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)
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