US oil stocks increased

US oil stocks increased Brent crude oil price fell slightly
January 20, 2017 12:05
US oil stocks increased

Baku. 20 January. REPORT.AZ/ During the week of January 7-13, US oil stocks increased by 2.347 mln barrel or 0,48% and made 485.5 mln barrel.

Report informs citing the US Energy Information Administration, in the reporting period gasoline stocks rose by 5.951 mln barrel.

In the analyzed period, daily oil production of the US amounted to 8.944 mln barrel, which is less by 2 000 barrel/day or 0.02% compared to the previous week. After announcement of the report, Brent crude oil price fell by 1.6% and declined to 53.90 USD/barrel.

Analytical Group of Report News Agency forecasts that oil prices will change at around 50-60 USD/barrel in the first quarter. 

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