US crude invent­ories fell by 1.4m barrel­s in the week to April 12, EIA data showsLONDON: Oil prices rose slightly on Thursday, boosted by a decline in US inventories, ongoing supply cuts from OPEC and its allies, and US sanctions on Venezuela and Iran. Oil hits 2019 high above $72 on China growth, lower US stocksUS crude inventories fell by 1.4 million barrels in the week to April 12, US Energy Information Administration (EIA) data showed on Wednesday. “The latest weekly statistics on US oil inventories were seemingly positive. Gasoline stocks fell by 1.2 million barrels, and distillate stocks, which include diesel and heating oil, fell by 362,000 barrels, the EIA data showed. Prices have been supported this year by an agreement reached by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, to limit their oil output by 1.2 million barrels per day (bpd).

Source: The Express Tribune April 18, 2019 12:56 UTC