Oil anchored near $24 while investors weigh demand against glut

Oil anchored near $24 while investors weigh demand against glut

US crude stockpiles expanded for a 15th week, although at a slower pace, while supplies at the Cushing storage hub rose further.. The OPEC+ coalition that includes Saudi Arabia and Russia started implementing daily output cuts of almost 10 million barrels a day on May 1, while in the US - the world's biggest producer - prominent shale explorers and companies such as Chevron Corp. have flagged supply curbs.. US crude stockpiles expanded by 4.59 million barrels last week, according to Energy Information Administration data on Wednesday..