U.S. crude oil inventories decreased in the week ending Nov. 30, the U.S. Energy Information Administration (EIA) said in a report on Thursday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 7.3 million barrels from the previous week. At 443.2 million barrels, U.S. crude oil inventories were about 6 percent above the five-year average for this time of year.
Oil prices extended much losses on Thursday, as OPEC wrapped up a much-anticipated meeting with no decision on the level of potential output cut.
The West Texas Intermediate for January delivery fell 1.4 U.S. dollars to settle at 51.49 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery fell 1.5 dollars to close at 60.06 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
