Global Oil Production Dropped To A 7-Month Low In January |

:pushpin: Global oil production fell by 365,000 bpd in January, hitting a seven-month low according to data from the Joint Organizations Data Initiative.

:pushpin: The drop in oil production was driven by lower output in Canada, Russia, Iraq, and Bahrain.

:pushpin: Global inventories of crude and oil products increased by 101.9 million barrels to an 11-month high but remain below the five-year average.

This daily chart for light crude oil does not show today’s action. This is an end of day look from yesterday:

I’m looking at oil at this moment around $66 & change.