Falling rig count in US not satisfies market

Baku. 19 April. REPORT.AZ/ US oil reserves showed a decline in amount of 0.84 mln barrels during April 8-14 week.

Report informs citing Forexpf.ru, report by the American Petroleum Institute (API) declares.

Notably, API indicator regarded as first alert of official oil reserves figure which will be announced today by U.S. Energy Information Administration(EIA) at 18: 30 in Baku time.

Analysts believe, official index of US oil reserves will decrease by 1.47 mln barrels. Falling rig count in US will lead to an increase in oil prices.

Analytical Group of Report News Agency believes, Brent crude oil reserves began to fall in the United States with the news of not enough decrease in oil reserves. It is currently sold at price above 54,7 USD/barrel.

Possible extension of OPEC agreement on production cuts in May meeting can lead to growth in oil prices above 60 USD/barrel.