Oil prices on Wednesday stopped its protracted fall and attempted growth. Not to say that this attempt was very successful, however quotations Brent have exceeded $47 a barrel.
One of the growth factors was the publication of data on reserves and production of oil in the U.S., which of the country energy publishes every Wednesday. Statistics was mixed, but quite suitable to play up, especially for speculators in recent times is important more the fact that statistics than those figures that are received.
So, the oil reserves in the U.S. fell by 2.3 million barrels – the decline continues for the ninth consecutive week. However, oil stocks in Cushing and gasoline inventories showed fairly strong growth.
Generally most surprising increase in gasoline stocks as the summer in the U.S. generally increases the consumption of motor fuel and gasoline inventories decline. However during the week they rose by 0.9 million barrels to 241 million barrels.
And, of course, traders closely followed the dynamics of production, because the number of drilling long enough grows, so production volumes may start to increase. Oil production in the US has really grown. By the way, for the second week in a row.
However, it is necessary to show attention to detail. Just two weeks ago there was a seasonal decline of production in Alaska, by 30%. Then mining in the state also began rapidly to recover, which led to an overall growth of production in the country, though, if you look at the other 48 States, there continues to decline.
Thus, production in Alaska has increased over the week from 411 thousand barrels per day to 449 thousand barrels, that is 38 thousand barrels. And in the other 48 States oil production decreased by 29 thousand barrels to 8,045 million barrels.
The chart clearly visible when the traders began to buy oil futures: it happened just after the publication of statistics from the US Department of energy.
