Current: Oil inventories +1.4 million barrels (now 540.7 million) – Production is picking up

The weekly reported oil inventories in the USA (crude oil) have just been published at 540.7 million barrels. This is an increase of 1.4 million barrels compared to the previous week. The expectations for the previous week were +0.3.

Gasoline inventories were published at -1.7 million barrels compared to the previous week. The expectations compared to the previous week were -1.3 million.

API inventories published Tuesday evening at 10:35 pm were reported at +1.7 million barrels of crude oil (+0.3 expected).

Oil production in the USA is 11.0 million barrels per day. After 10.5 million barrels per day last week.

The price of oil (WTI) reacted in the first moments after the announcement with -37 cents to 39.20 Dollars.

source: tradingeconomics.com
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