US crude oil reserves decreased by 3.6 million barrels

Beijing. June 1. Silkroadnews - The crude oil reserves in the US have decreased by 3.6 million barrels, the Kazakh Telegraph Agency (KazTAG) reports with reference to RBC.
According to the report of the API (the American Petroleum Institute - KazTAG), crude oil inventories rose 1 million barrels over the previous week. Remains of distillate rose by 1.47 million barrels for the first time since March this year. It is not the first time when data by the U.S. Energy Information Administration (EIA) differs from ones provided by the API. According to data released by the EIA, inventories decreased by 3.6 million barrels, the report said on Friday.
The analysts, as noted, expected growth of 450 thousand barrels. It is also reported that in the evening of May 30, the API Oil Futures report reacted with only a small local decline, while on the morning of May 31 Brent quotes overcame the level of $78 per barrel.
After EIA information on the decline in inventories, which supposed to support prices from below, traders tried to “storm” the level of $79 per barrel, succeeded for a few minutes, after which prices returned to $78 per barrel. Given the powerful impact of rumors on increasing quotas in OPEC+ and uncertainty on this issue before the June 22 summit, the oil is unlikely to gain a foothold at high levels ($79-80) before this date, the report says.