Growth in US oil reserves 3 times higher than forecasts

Baku. 15 February. REPORT.AZ/ During February 9-15, crude oil stocks in US, 3 times exceeded forecast and increased by 9,94 mln barrels instead of 3.5 mln barrels.. Report informs referring to the American Petroleum Institute (API).

Notably, API's today's report is considered as the first signal of official report by US Department of Energy Information Agency (EIA).

According to the forecast by EIA, during the reporting week oil reserves will increase by 3,513 mln barrels, gasoline stocks by 0,752 mln barrels, while distillate stocks by 0,696 mln barrels.

Notably, API's report yesterday February 14 caused fall in Brent crude oil price by 1,6% up to 55,53 USD/barrel.

EIA's report today and US weekly data on oil production and the number of active drilling wells from Baker Hughes will determine the trajectory of movement of oil prices. Notably, last week in the US, the number of active oil wells increased by 8 points or 1.37% and reached 591.

Analytical Group of Report News Agency believes, decrease in oil prices expected to continue today.

"Brent" crude oil price can decline to the level of 50 USD/barrel. However, in the near future oil prices not expected to drop below 45 USD/barrel. Maximum rise can be 65 USD/barrel.