Traders Are Buying Oil At The Fastest Rate Since 2020

After months of skepticism, traders seem to have finally realized that OPEC+ is serious about keeping crude oil supply constrained. Per the latest weekly data from Reuters, as reported by market analyst John Kemp, traders are buying oil at the fastest rate since 2020. And oil prices are on the rise. Of course, OPEC is not the only factor behind the change in sentiment among traders. Refinery disruptions in Russia resulting from Ukrainian drone attacks have also had a lot to do with the growing bullishness on oil markets. Recent reports that…