Oil Falls From Two-Month High as U.S. Supplies Seen Growing
- U.S. stockpiles expected to gain 3.5 million barrels: survey
- Latin American crude producers to meet on Friday, Ecuador says
Thummel: Oil Could Reach $50 By End of 2016
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Crude oil fell from the highest level in two months on expectations that reports will show U.S. inventories rose last week to an eight-decade high.
U.S. stockpiles probably increased for a fourth time in the week ended March 4, according to a Bloomberg News survey before government data Wednesday. The U.S. Energy Information Administration lowered its oil-price forecasts for 2016 and next year. Ecuador’s foreign ministry said Latin American producers will meet on March 11 to discuss oil prices, while Russia said major suppliers may meet within weeks.