Oil inventories in the United States unexpectedly decreased by 0.4% over the week

According to the Energy Information Administration of the US Department of Energy, commercial oil reserves in the country (excluding the strategic reserve) decreased by 2 million barrels, or 0.4%, and reached 492.4 million barrels. Analysts predicted an increase in reserves by 1.6 million, to 495.9 million barrels.

Oil production in the United States for the week averaged 10.7 million barrels per day, as in the previous week. On average, over the past four weeks, oil production in the United States amounted to 10.575 million barrels per day.

Recall that in early September, the US Department of Energy increased the forecast for the average oil production in the country for the current year by 120 thousand barrels per day, to 11.38 million (compared with the August estimate), and reduced for 2021 – by 60 thousand barrels, to 11.08 million barrels per day.