The weekly reported oil stocks in the USA (crude oil) have just been released with 425.9 million barrels. This represents an increase of 2.4 million barrels, with expectations of +2.5 million.
Gasoline inventories were reported at 243.7 million barrels, which represents a minus of 0.8 million barrels compared to the previous week – with expectations unchanged.
API inventories released yesterday evening were reported to +5.66 million barrels of crude oil, with expectations of +3 million. According to API, Gasoline inventories fell by 4.54 million barrels, while distillates rose by 1.49 million barrels.
Oil production increases on a weekly basis by 86,000 barrels per day, bringing the total to 10.369 million barrels per day.
The oil price (WTI) reacts in the first few moments after the announcement with +0.45 dollars to 62.28 dollars.