Current: Crude Oil Inventories +1.9 million barrels (now 420.3 million) – Oil production is rising sharply!

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.

US Crude Oil Stocks since October 2015.

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