According to the calculations of American Petroleum Institute (API), oil reserves of the US have increased last week, APA-Economics reports citing forecasts of the API.
US oil reserves increasing by 7,4 mln. barrels amounted to 479,5 mln. barrels last week.
Note that US oil reserves were expected to decrease by 1,85 mln. barrels.
Remind that the data on the US oil reserves significantly impact the price of the “black gold” on the world market.