•The US Department of Energy and American Petroleum Institute at 1530 GMT will publish its latest report on US crude and product stock data to the week ending March 03. Analysts are expecting draws in distillate stocks of 1.7 million barrels and gasoline stocks of 900,000 barrels. However, the bearish data is expected to come from a build in crude stocks of 1.7 million barrels.
•Further to the bearish sentiment, Algerian oil minister Chakib Khelil said that OPEC has agreed to leave current production unchanged for the time being. OPEC ministers are meeting later Wednesday in Vienna and Khelil told reporters ahead of the OPEC meeting that they, "are going to keep it the way it is, we are happy with it. I think there is a consensus," the minister said.

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