Commercial oil reserves in the U.S. increased during the week 8 to 15 April by 2.1 million barrels to 538,6 million barrels of the Ministry of energy of the country.
The analysts had expected growth of reserves by 2.4 million barrels, according to TASS citing a survey by Bloomberg.
While oil production in the U.S. last week fell by 0.27%, or 24 thousand barrels per day, up to 8,953 million barrels per day. The oil reserves in the country’s largest terminal Cushing (Cushing) has decreased by 0.3 million barrels to 64.3 million barrels, said RIA “Novosti”.
Gasoline stocks in the USA decreased by 0.1 million barrels to 239,7 million barrels. Analysts predicted a decrease of 1,217 million barrels. Distillate inventories fell by 3.6 million barrels to 159 million barrels. Analysts expected that this indicator will grow by 0,304 million barrels.
According to senior analyst “Alpari” Anna Bodrov, “oil prices remain in the red.” “The strike in Kuwait is about to end, the consequences of accidents on Nigerian oil pipelines are eliminated. Yesterday’s figures from the API showed an increase of oil reserves”, — said in comments the expert.
In her view, “all in all, these drivers are able to trigger a new wave of sales on the oil market, if investors do not find the counterweight”.
