World: The Oil Price Decreased After the Release of Data About the Growth of Reserves in the USA
July 27, 2005
World: The oil price decreased in the afternoon on 20 Jul 2005 after the release data about the growth of oil reserves in the USA. It was the growth of oil distillate products. This category includes also heating oil and petroleum, which are two closely observed fuels. According to the data of the Office for Energy Information of the USA, the reserves of the fuels rose for the ninth week in the week from 11 Jul 2005, by 2.3 mil barrels to 122.7 mil barrels. Analysts estimated the reserves to increase by 1.7 mil barrels.