Oil settles down 1%, on hint of big U.S. crude buildTomorrow could be another day in the red and I'm fairly confident that US Traders will trade lower plus at 8:30am US Retail Sales followed by a number of other US Data like Industrial Production, Manufacturing Production, and dreaded EIA and I have a feeling tomorrow might close lower again. I don't know whose calculator is being used for demand but I would check the batteries Biden should be buying Oil not selling it there's a lot to go around. Maybe they will figure it out once EIA shows an 8th consecutive surplus tomorrow. FED is screwing up not knowing what they're doing and this contracting economy is going to drag out till 2025 if they remain light on Intrest Rate Hikes Inflation will stay high and here we are again will Oil surplus. Putin must be cursing that Oil never rallied to $80+ and they're probably cutting production because they don't see China demand expanding till manufacturing starts to recover, you can't trust anything Putin says, and come March he'll come out with some lame reason why they can't cut production and if he does all the better for shareholders but the fight for Oil to rally in March will be met with the FED so which side will win. The market is full of surprises.
Economic Calendar (tradingeconomics.com) US EIA Crude Oil Stock 
Oil settles down 1%, then drops more on hint of big U.S. crude build By Reuters (investing.com)