WTI crude futures jumped more than 2 percent above $ 56 on the day. After the US disclosed crude oil stocks fell last week.
As of 11.03 hours Thai time, the West Texas Crude Oil (WTI) contract for delivery in March. It traded $ 1.36, or 2.48 percent, to $ 56.12 a barrel.
The US government’s Energy Information Administration (EIA) said US crude inventories fell 1 million barrels last week. While analysts had expected a decrease of 2.4 million barrels.
American Petroleum Institute (API), a group of the US oil industry. Previously disclosed that U.S. crude stocks were down 4.3 million barrels last week.
The EIA also revealed that Crude stocks at Kuching, Oklahoma, the point of delivery of U.S. crude futures fell 1.5 million barrels.
In the Petroleum Exporting Countries (OPEC) and allied nations Or OPEC Plus Oil stocks are forecast to drop to below the five-year average by June.
Oil prices also benefited from a cut in Saudi Arabia’s oil output. And the progress of issuing US economic stimulus measures
Saudi Arabia has cut its production capacity of 1 million bpd to 8.125 million bpd. Starting from Feb. 1 until the end of March While OPEC Plus Oil production is scheduled to remain at 7.2 million barrels / day during the period.
The White House revealed that President Joe Biden will meet with Democrats at the White House today. To discuss economic stimulus measures
President Biden hopes to push the measure through to Congress approval. Despite protests over the $ 1.9 trillion raised by Republicans.
President Biden previously met with 10 Republican senators at the White House on Monday, saying he needed support from both Republicans and Democrats for the campaign. Through such economic stimulus measures This includes a grant for the unemployed in the United States. And funding for COVID-19 vaccination To the Americans
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