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    US daily oil production rapidly growing

    Global oil reserves continue to decline

    Baku. 13 April. REPORT.AZ/ During April 1-7, the US daily oil production in US increased by 36,000 barrels or 0.39% and reached 9.235 mln barrels.

    Report informs citing the, Energy Information Agency (EIA) of US Department of Energy informed. The report also said that during the week US oil stocks fell by 2.2 mln barrels or 0.4% and made 533.4 mln barrels. Despite the decline in oil stocks, investors have become more concerned about the increase in daily production in the US and as a result at yesterday's auction decline was observed in oil prices.

    Thus, Brent crude oil price fell by nearly 2% to 55,50 USD / barrel.

    Analytical Group of Report News Agency informs, oil prices will show growth against the background of the decline in world's oil reserves. With production cuts started since the beginning of the year OPEC plans to reduce global oil reserves by 300 mln barrels in the first half of 2017. According to Norwegian SEB Bank report, global oil reserves decreased by 42 mln barrels during the last four weeks.

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