Crude oil prices rose Thursday due to concerns about global oil supply after Iraq lost 200,000 bpd from drone attacks. US economic strength supports energy demand. Iraq plans to resume Kurdish oil exports. OPEC+ increasing production to reverse cuts may lead to a global oil glut.

OPEC+ may pause production increases in October to prevent a supply glut. Global oil demand slowdown could lead to surplus. Worldwide decrease in crude oil on tankers is bullish. US crude inventories fell by -3.859 million bbls. Gasoline and distillate inventories rose.

Number of active US oil rigs fell to a new low of 424 rigs. Crude oil prices may be affected by production increases, demand slowdowns, and inventory changes. Oil market dynamics continue to shift due to global events and economic factors.

Read more at Yahoo Finance: Crude Oil Prices Jump on Signs of a Tightening Supply Outlook