Oil rises to eight-week high on demand hopes, US export decline

Net US crude exports dropped to 1.8 million bpd

Strong recovery: The IEA sees oil demand is outstripping supply, with the shortfall expected to widen even if Iran boosts exports. — Strong recovery: The IEA sees oil demand is outstripping supply, with the shortfall expected to widen even if Iran boosts exports.Photo: AP/SCANPIX

Reuters

Oil Price Colonial Pipeline Opec USA North America

Published 12 May 2021, 22:07Updated 12 May 2021, 22:07