US API Crude Oil StockWell along with lower manufacturing in China and the US might as well add surplus Oil to the downbeat. We'll still see further decaying in manufacturing leaving China's reopening fighting against the current with today's sell-off the US leads way back to $79 Oil so we'll see tomorrow if Oil stays in the $70+ and if it does it could lead to the further downside until growth is verified because right now the projection is that China will create half the growth for Oil demand so if China falls short Oil will suffer and right now China manufacturing is in a free fall. They predict record consumption in 2023 but there are going to be horrible months like the next few and maybe by year-end demand skyrockets making up for lost growth in the first few months so there's no reason right now for Oil to rally much higher than it currently has.
US API Crude Oil Stock 