The API - American Petroleum Institute reported Tuesday that U.S. crude stockpiles rose by 3.23 million barrels for the week ended January 26. WTI Crude is $64.01; Brent is $68.45 this morning.
Oil market observers will look for the U.S. Energy Information Administration report Wednesday on crude output and supplies, as well as the turmoil in Venezuela as the greatest current risk for a major supply interruption. WTI Crude is $64.80; Brent is $69.07 this morning .
Oil output is expected to break 10 million bpd soon. U.S. energy companies added 12 oil rigs while drilling for new production last week. WTI Crude is $65.79; Brent is $69.89 this morning.
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