Analysts, on average, expect US crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. “We have already seen these inventories going higher in the last week’s print,” said Naeem Aslam, Chief Market Analyst at TF Global Markets in London. While OPEC-led supply cuts have boosted Brent by more than 30% this year, gains have been limited by worries that slowing economic growth could weaken demand for fuel. Oil also fell on Monday after comments from Russia raised concern the OPEC-led supply-cut pact may not be renewed. Gas prices likely to be increased by 75% to 80%The Organisation of the Petroleum Exporting Countries (OPEC) and other producers including Russia, an alliance known as OPEC+, have been cutting output since January 1.

Source: The Express Tribune April 16, 2019 12:33 UTC