U.S. crude oil inventories decrease sharply last week

Source: Xinhua | 2018-09-12

The American Petroleum Institute (API) on Tuesday reported a huge draw of 8.636 million barrels in the U.S. crude oil inventories for the week ending Sept. 7.

The institute reported a slight draw of 1.2 million barrels in the oil inventories for the previous week.

Oil prices rose on Tuesday as the U.S. Energy Information Administration (EIA) lifted oil-price forecasts and lowered U.S. crude output expectations.