The weekly reported US Crude Oil stocks have just been released with 423.5 million barrels. This represents an increase of 3 million barrels, with expectations of +2.5 million.
Gasoline stocks were reported at 244.5 million barrels, which represents an increase of 2.5 million barrels compared to the previous week – with expectations unchanged.
API inventories released yesterday evening were reported with +0.93 million barrels of crude oil, with expectations of +3 million. According to API, fuel stocks rose by 1.91 million barrels, while distillates fell by 1.47 million barrels.
Oil production increases on a weekly basis by 13,000 barrels per day, and is thus 10.283 million barrels per day.
The Oil price (WTI) reacts in the first few moments after the announcement with -0.67 dollars to 62.50 dollars.