Baku. 2 August.REPORT.AZ/ US oil reserves increased by 1.78 mln barrels on July 22-28.
Report informs citing the Russian media, American Petroleum Institute's (API) issued a statement.
According to the report, US gasoline reserves decreased by 4.83 mln barrels. Analysts expected a decrease of 1 mln barrels.
Notably, API data compiled on a voluntary basis and traditionally precede the official weekly statistics of the Energy Information Administration (EIA) at 18:30 Baku time , which today will confirm or disprove the figures from the API. Analysts predict a decline of 3 mln barrels in stocks up to 480 mln barrels and that could trigger an increase in oil prices.
Analytical Group of Report notes, Brent crude oil price began to decline amid news of the increase of reserves. At present oil price is above $ 51 barrel which was $ 52 per barrel last week. Brent is forecasted to fluctuate in the range of $ 40-55 per barrel by the end of the year.