Oil prices extended losses yesterday after reports that OPEC+ may be bringing supply back onto the market at a quicker-than-expected pace. There are now reports that it may go with three monthly supply hikes of around 500k b/d each. Numbers overnight from the American Petroleum Institute were somewhat supportive for crude oil and bearish for refined products. US crude oil inventories are reported to have fallen by 3.7m barrels over the last week, while Cushing crude oil stocks fell by 693k barrels. Middle distillate cracks remain well-supported amid concerns over market tightness.