Prices of oil in future contracts fell over 3% on Wednesday after the United States Energy Information Administration (EIA) reported that crude oil in the country’s stockpiles increased by 4.1 million barrels from a week ago. Similarly, the American Petroleum Institute (API) private data supposedly showed a 6.33 million barrel buildup in domestic inventories. Traders also monitored the decision by the Organization of the Petroleum Exporting Countries (OPEC) and allied producers to stick to its previous output plan. NN: Stick to your guns in oil. Data shows COVID shut Downs in China are over. Infection rates plunging. AND the economy is roaring back to life. Shop to you drop and Vacation at the Station furthest from your house. Oil has become a crowded trade. So the algoes are simply forcing out the weak players before the coming zoom zoom zoom.