At 3:38 pm (Brasília time), this Wednesday (14th), the WTI spot contract registered gains of 4.99% and was traded at US$ 63.18 / barrel on the New York Stock Exchange. The Information and Energy Administration (EIA) reported today that inventories of the commodity in the United States fell 5.889 million barrels last week. The result was much better than the drop of 3.522 million barrels in the previous week and an expectation of -2.886 million barrels. Yesterday (13), the American Petroleum Institute (API) reported a drop of 3.608 million barrels in the same period. In addition, advances in vaccination against the disease and the effectiveness of social isolation also contribute to raising expectations for international economic recovery. The Organization of Petroleum Exporting Countries (OPEC) also started to forecast an increase of 5.95 million barrels per day (bpd) in global demand for the commodity in 2021. The new estimate is 70 thousand bpd (or 6.6%) higher than last month.
This text was translated by machine from Brazilian Portuguese.