American oil curd share is down today facts and reasons.

 American oil curd share is down today for several reasons.

The surprise build in U.S. crude stocks: The U.S. Energy Information Administration (EIA) reported a surprise build in crude oil stocks for the week ending June 17. This was the third consecutive week of builds, and it came as a surprise to many analysts who were expecting a decline.

Rising interest rates: Rising interest rates are making it more expensive for businesses to borrow money, which could lead to a slowdown in economic activity and oil demand.

Fears of a recession: There are growing concerns that the global economy is headed for a recession, which would also lead to lower demand for oil.

The future of American oil curd share is uncertain. If the economy does enter a recession, oil demand could decline significantly, which would put downward pressure on prices. However, if the economy remains strong, oil demand could continue to grow, which would support prices.

The upcoming OPEC+ meeting on June 28 will be closely watched by the market. OPEC+ is expected to maintain its current production levels, but if the group decides to increase production, it could put downward pressure on prices.

Here are some additional facts about the decline in American oil curd share:

• The price of West Texas Intermediate crude oil fell by 1% on June 22, to $109.50 per barrel.
• The Brent crude oil price fell by 1.2% on June 22, to $113.30 per barrel.
• The U.S. rig count fell by 10 rigs in the week ending June 17, to 594 rigs.
• The EIA expects U.S. crude oil production to average 12.1 million barrels per day in 2023.

It is important to note that the oil market is volatile, and prices can change quickly. The factors that are driving the decline in American oil curd share today could change in the future, which could lead to a rebound in prices.