Oil rose due to the decline in US crude stocks

Oil prices rose in early Asian trading on Wednesday, due to a decline in US crude stocks and the latest cut in production targets for the OPEC + alliance.

Brent crude futures rose 47 cents to $85.41 a barrel at 0535 GMT. US West Texas Intermediate crude rose 42 cents to $81.13 a barrel, according to Reuters figures.

Prices received support after data from the American Petroleum Institute, on Tuesday, showed a decrease in US crude stocks by about 4.3 million barrels in the week ending March 31.

Gasoline stocks fell by about 4 million barrels, while distillate stocks fell by about 3.7 million barrels, according to the American Petroleum Institute.

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Oil rose due to the decline in US crude stocks

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