After the publication of the data of the American Petroleum Institute, the price of oil on the world market fell. According to the American Petroleum Institute (API), the country's oil reserves have fallen less than expected.
Brent futures for February delivery fell by 1.04% to $ 72.93 a barrel.
WTI January futures fell by 1.23% to $ 69.86 a barrel.
According to the API, oil reserves in the US fell by 0.815 million barrels, while analysts forecast a decline of 2.6 million barrels.
Due to the declining demand for oil caused by the coronavirus pandemic, OPEC + has reduced production by 9.7 million barrels since May last year.
With the stabilization of the situation, oil production has more or less resumed. From August 2021, the Alliance increased oil production by 400 thousand barrels per month.
Since then, the organization's member states have met every month and discussed the production plan for the coming month.
