MoneyNews

US oil inventories up 1.1 million barrels

UNITED STATES, WASHINGTON (OBSERVATORY) — Commercial oil reserves in the United States (excluding the strategic reserve) for the week ended September 13 increased by 1.1 million barrels, or 0.3%, to 417.1 million barrels, according to a review by the Energy Information Administration (EIA) of the country’s Ministry of Energy.

Surveyed by Reuters expected a decrease in reserves of 2.5 million barrels.

According to the ministry, oil production in the US for the week amounted to 12.4 million barrels per day, as a week earlier.

Oil reserves at the country’s largest terminal in Cushing, Oklahoma, decreased by 0.6 million barrels to 38.7 million.

Gasoline reserves increased by 0.8 million barrels, or 0.3%, to 229.7 million barrels. Analysts predicted a decrease in gasoline inventories by 0.5 million barrels.

Distillate stocks for the week increased by 0.4 million barrels, or 0.3%, amounting to 136.7 million barrels. Growth was projected at 0.5 million barrels.

The strategic oil reserve in the country has not changed compared to the previous week and amounted to 644.8 million barrels.

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