API forecasts decrease of US oil reserves for first time in last two months

# 09:37
20 May 2020

American Petroleum Institution (API) has forecasted decrease of commercial oil reserves of the US for the first time in the last two months, APA-Economics reports citing API's forecasts.

According to the results of the last week (May 11-15) oil reserves of the US have decreased by 4.8 mln barrels and amounted to 521,35 mln. barrels.

Note that oil reserves of the USA have been expected to increase 9,3 mln. barrels.

Remind that the data on the US oil reserves significantly impact the price of the “black rise” on the world market.