U.S.: Oil falls to 4,856 million barrels

Last Wednesday (4), the Department of Energy (DoE) reported that U.S. oil inventories fell to 4.856 million barrels in the week ended November 29. The figure exceeded the consensus, in a survey of the Wall Street Journal with analysts, which was down 1.5 million barrels.

According to official DoE data, gasoline inventories rose to 3.385 million barrels last week. The distillate stocks – which include diesel and heating oil – have risen in 3.063 million barrels, at 119.469 million, with an expectation that there would be 400,000 barrels per week.

After the release of the figures, the global and American references of oil futures contracts maintained the bullish trajectory they presented. In addition, prices are also driven by the expectation that OPEC member countries and their allies will support the extent of commodity production cuts at the meeting in Vienna, Austria, on Thursday (5) and Friday (6).

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