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    O
    Oil and Gas
    SECTOR | 10 May 2023

    Crude prices – Long-term correlation between inventories and prices breaks down

    buy
    Oil and Gas
    by ICICI Securities Limited
    ICICI Securities Limited
    Crude prices and crude inventories have had a longstanding inverse correlation, with a rise in one mostly implying a fall in the other. The current softness in Brent crude price, however, does not seem to be following that trend, with bearishness in prices sustaining despite a marked drawdown in key product inventories.
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