Crude oil prices rose higher and lower on Wednesday after data showed a surprisingly sharp contraction in domestic supplies while US production is expected to rise in the foreseeable future.
Analysts surveyed by S & P Global Platts saw a drop in crude oil stocks of 250,000 barrels and an increase in gasoline stocks by 2.6 million barrels.
Energy Information Administration said oil stocks fell [
Later Tuesday, the US Petroleum Institute reported a drop in crude oil supplies of 560,000 barrels and an increase in gasoline stocks of 5.99 million barrels.
Domestic oil production has risen to 1
While the United States was briefly a net exporter of oil at the end of last year, the latest forecast shows it will be a net net exporter by 2020
lowered its forecast for Brent oil prices in 2019 by 0, 8% to $ 60.52. But the US crude oil price estimate remains at $ 54.22.
In anticipation of 2020, the EIA sees an average price of $ 60.76 for Brent and $ 60.76 for US oil.