According to forecasts of the American Petroleum Institute (API), the commercial oil stock in the US decreased during the last week (October 26-30), APA-Economics reports citing the API’s forecasts.
During the last week, the US oil stock decreased by 8 mln. barrels and made up about 487 mln. barrels.
Note that the analysts expected growth of the US oil stock by 890 thousand barrels.
Remind that the data on the US oil stock significantly impact the proce of the “black gold” on the world market.