The weekly reported oil inventories in the US (Crude oil) have just been published at 420.3 million barrels. This represents an increase of 1.9 million barrels, with expectations of +3 million.
The Gasoline stocks were reported at 238.1 million barrels, which represents an increase of 3.4 million barrels compared to the previous week – with expectations of +0.5 million.
API inventories released yesterday evening at 10:35 pm est were reported to be -1.05 million barrels of crude oil, with expectations of +3 million. According to API, gasoline stocks fell by 0.2 million barrels, distillates rose by 4.5 million barrels.
Oil production increases on a weekly basis by 332,000 barrels per day to now 10.25 million barrels per day!
The oil price (WTI) reacts in the first few moments after the announcement with -0.80 dollars to 62.87 dollars.