Information provided by the American Energy Information Administration on Thursday indicated that crude oil inventories in the U.S. declined by 6.9 million barrels in the past week. This reduction was significantly larger than analysts' expectations, who had predicted a decrease of 2.4 million barrels.
According to the data, the total inventory of crude oil in the country stood at 439.7 million barrels. Analysts noted that this reduction in stocks was caused by rising export volumes of oil and decreased volumes of its production in the U.S.
Specialists also pointed out that the reduction of crude oil stocks may affect prices for petroleum products in the near future. However, it should be taken into account that the factors of supply and demand will also exert influence on the dynamics of prices in the energy resource market.
"The reduction of stocks is important for the market, especially during a period of increased demand for oil and petroleum products. However, we must consider a multitude of factors influencing the global energy market in order to accurately forecast changes in prices for energy carriers," experts emphasized.
