U.S. oil inventories increase last week

Source: Xinhua | 2018-11-28

U.S. crude oil inventories posted a build of 3.45 million barrels last week, according to a report by the American Petroleum Institute (API) on Tuesday.
In the previous week ending Nov. 16, API reported a draw of 1.55 million barrels, the first week that saw a draw after four weeks of straight builds.
Oil prices dropped slightly on Tuesday amid expectations that oil exporters would agree to cut output at a meeting of the Organization of the Petroleum Exporting Countries (OPEC) next week.
The West Texas Intermediate (WTI) for January delivery was down 7 U.S. cents to settle at 51.56 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery dipped 0.27 dollar to close at 60.21 dollars a barrel on the London ICE Futures Exchange.