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U.S. crude supplies of last week declined 0.8 million barrels to 502 million barrels, 84 million barrels more than one year before, according to the weekly report issued by the US Energy Information Agency (EIA) Wednesday.
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EIA assumed that a collaborative production cut among Organization of Petroleum Exporting Countries (OPEC) members and other major producers does not occur in the forecast period, as major OPEC producers continue the strategy to maintain market share.
The West Texas Intermediate for March delivery moved down 49 cents to settle at 27.45 dollars a barrel on the New York Mercantile Exchange wholesale air max plus mens , while Brent crude for April delivery increased 52 cents to close at 30.84 dollars a barrel on the London ICE Futures Exchange.
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