Oil prices

U.S. crude oil stockpiles surge by 244,000 barrels, gasoline inventories plummet by 4.5 million: EIA
U.S. crude imports surged 1.14 million barrels daily, the highest increase since late 2024

The May hike is the next increment of the plan to gradually unwind the most recent output cut of 2.2 million bpd

The upgrade is backed by better governance and stronger institutions, enhancing domestic capital markets' depth
