US crude inventories rose more than expected
The report of the US Energy Information Administration (EIA) for the last week indicated a much greater increase commercial reserves of oil than the experts predicted. On average, they forecast an increase in inventories by 1.8 million barrels, the actual growth turned out to be seven times more — by 6.6 million barrels to 536 million. Commercial crude oil inventories in the United States returned to the highest level in the last couple of decades and they are now 194 million barrels higher than historical average for this period and the time of year. However, some analysts predict that within the next few weeks may occur decline in oil inventories against the backdrop of the volume of oil refining and export growth. Refiners, which have been closed for the passage of the seasonal maintenance, will begin their work, and will probably increase production in preparation for the summer driving season. «The difference in the refining volumes between the minima of the spring and maxima of summer may exceed 1.7 million barrels per day, and production could reach new records increase in recycling is likely to be the key factor that will affect the direction of movement in the US inventory.» — believe experts. The International Energy Agency (IEA) in his short report dated April 12, notes that the production of oil in the US in March as compared to February dropped by 90 thousand barrels per day. Moreover, the agency reduced the forecast for 2016-2017. The IEA has estimated daily production of oil in the US 9 million barrels in March 2016, and in April, it will grow to 9.7 million barrels.