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- Oil prices increase slightly on signs that the oil output in the U.S. will decline
Oil prices increase slightly on signs that the oil output in the U.S. will decline
Oil prices rose slightly on signs that the oil output in the U.S. will decline. The U.S. Energy Information Administration (EIA) said on Monday that shale oil output is likely to decrease by 80,000 barrels a day by next month.
Market participants are awaiting the release of U.S. crude oil inventories data. The American Petroleum Institute (API) is scheduled to release its U.S. oil inventories data later in the day, and U.S. oil inventories data from the U.S. Energy Information Administration is expected on Wednesday.
WTI crude oil for October delivery rose to $44.87 a barrel on the New York Mercantile Exchange.
Brent crude oil for October rose to $46.70 a barrel on ICE Futures Europe.
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