Bank Of Baku

US commercial oil reserves sharply increase

US commercial oil reserves sharply increase
# 13 April 2022 09:18 (UTC +04:00)

According to the forecasts of the American Petroleum Institute (API), commercial oil reserves in the US have increased last week, APA-Economics reports citing the forecast of API.

Last week, US oil reserves made up 420,128 thousand barrels increasing by 7,757 thousand barrels.

Note that analytics were expecting US oil reserves to increase by 1,367 barrels.

Recall that the information about US oil reserves significantly affects the price of "black gold" on the world market.

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