U.S. EIA: crude oil brought online in the week to Aug 14 totaled 216,000 b/d, prior 26,000 b/d.

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Federal Reserve minutes show Chair Kevin Warsh proposed reducing the Federal Open Market Committee's annual policy meetings from eight to six. Warsh said six meetings — roughly once every two months — would allow more information to accumulate between meetings and give policymakers and Fed staff more time for strategic research and consideration of monetary policy. He solicited committee views; the minutes state the meeting schedule will not change this year. The minutes note that fewer policy meetings would represent a significant change to how the Fed operates.