Earlier, analysts predicted a significant more modest cut – an average of 2.3 million barrels.
According to a weekly US Department of Energy (EIA) report, commercial oil reserves were reduced by 11.5 million barrels per week, which ended on June 13. Reuters reported it on Wednesday, June 18.
This is the biggest fall in stocks since June of last year.
According to the trade economy, analysts predicted a significantly more modest cuts – an average of 2.3 million barrels.
Meanwhile, gasoline reserves for a week grew 209 thousand barrels, and died – by 514 thousand barrels.
Terminal reserves in Kali (Oklahoma), where oil is stored, exchanged with the New York Commodity Exchange (NYMEX), reduced by 995 thousand barrels after reducing 403 thousand barrels a week before.
At the same time, the reserves at the main terminal of the balcony (oklahoma) were reduced by 995 thousand barrels. Other factors -a reduction in exports and export growth -also contributes to the decline in reserves.
Remember that oil prices rise sharply after the onset of Israeli’s attack on Iran.
OPEC+ has made a decision that sounds as a sentence for the Russian economy
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.