Oil stabilizes positions. Data on oil reserves in the USA.

Oil prices stabilize their positions due to the reduction in oil reserves in the US. According to published data, inventories declined by -5,117 million barrels over the past week, while analysts expected a decline of -3.007 million barrels.

Oil reserves in Cushing fell by -3.317 million barrels, exceeding the previous decline of -2.753 million barrels.

Earlier, the pressure on oil quotations was provided by the OPEC report, which expressed concerns about the growth of oil production in the US. That is why the rebalancing of the oil market could not be achieved before the end of 2018.

• At the moment, WTI crude oil is trading at $ 57.22, adding about + 0.14% to the price.
• Brent crude oil is trading at around $ 63.30, losing about -0.06% in price.

Alexander Sivtsov