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Sasha
build in US inventories and ample spare production Hello! Could you help me understand the meaning of build in US inventories and ample spare production? "The market shrugged off news of a large build in US inventories last week to move higher Wednesday on ongoing concerns regarding the impact of US sanctions on Iran. But Thursday, comments from Saudi oil minister Khalid al-Falih that Saudi Arabia has ample spare production capacity calmed markets." from https://www.spglobal.com/platts/en/market-insights/latest-news/oil/100418-crude-oil-futures-move-lower-as-market-reevaluates-us-stock-build-ice-brent-down-to-8556b-nymex-wti-7541b
Oct 5, 2018 10:37 AM
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'build in US inventories' = increase in US oil reserves 'ample spare production' = a sufficient amount of unused production (which could be used if needed)
October 5, 2018
Sasha
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