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Oil prices rose after a government report showed that crude stocks fell again Cushing terminal , registering with the second weekly decline in a row.
American Petroleum Institute data released on Tuesday showed that the oil terminal at Cushing fell last week by 2.49 million barrels. A week earlier , according to the Ministry of Energy , the terminal stocks fell 1.55 million
" Depletion of Cushing support prices for WTI, - said analyst Gene Makdzhillian Tradition Energy . - We see that oil imports to China set a new record . Rally in the oil market continues."
Meanwhile, adding that today's Energy Department data on changes in stocks in the U.S. this week , February 2-8, showed :
- Load refinery in the U.S. 87.1 % against 86.1 % a week earlier
- Distillate stocks in the U.S. -0,731,000 barrels to 113.063 million barrels
- Stocks of gasoline in the U.S. -1,853,000 barrels to 233.098 million barrels
- Crude oil inventories in the U.S. 3.267 million barrels to 361.352 million barrels
In addition, the course of trade affected OPEC monthly report , which pointed to the increase in the forecast for growth in oil demand this year by 50,000 barrels per day. Now forecast assumes growth rate at 1.1 million barrels per day to 90.98 million barrels. As reasons for the increase forecast in a cartel called the improved economic situation in the EU and USA. OPEC also added that in the future outlook may be raised again if the positive economic trends continue . Oil , which supplies OPEC accounts for about a third of global consumption . At the same time, OPEC warned that economic instability in developing countries, such as Argentina , may put into question the forecasts . In recent weeks, have expressed similar concerns , European and American multinationals . " Downside risks remain , they are associated with fiscal problems of some (developing) countries " , - the report says OPEC. In cartel refer to fiscal and monetary issues in Asia and Latin America.
Also today it was announced that the U.S. Energy Information Administration raised its forecast for growth in global oil consumption in 2014 and lowered the forecast production in non -OPEC countries . In the EIA monthly report raised growth forecast consumption by 50 thousand barrels per day to 1.26 million barrels. Management also reduced production forecast non-OPEC countries by 110 thousand barrels per day to 55.96 million this year and 90 thousand barrels per day to 57.46 million in 2015. In addition , EIA has lowered forecasts of production in the U.S. is 100 thousand barrels per day in this and next year to 8.4 and 9.2 million, respectively.
March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 100.82 per barrel on the New York Mercantile Exchange (NYMEX).
March futures price for North Sea Brent crude oil mixture rose 23 cents to $ 108.96 a barrel on the London exchange ICE Futures Europe.
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