United States supply increase + Libya tubing to restart the rally in oil prices under pressure

The MarketWatch report, crude oil futures (21st), affected by the weak dollar boosted slightly higher, but the rally due to United States weaken the unexpected increase in crude oil inventories last week. Despite the recent rise in oil prices, but the United States energy information Administration (EIA) announced that United States oil inventories increased 2.3 million barrels in the week ending December 16, overturned market expectations. EIA report stated that "United States crude inventories increased to 485.4 million barrels, at the upper limit of the average range this time each year.

Analysts said the unexpected increases in import growth may be inventory to the background. United States net imports during this period increased by 1 million barrels to 7.9 million barrels a day.

In the same week, refinery operators operating effectiveness of 91.5%, gasoline production increased to about 10.2 million barrels a day, distilled fuel oil production would rise to more than 5.1 million barrels a day. Oil prices at the same time Libya National Oil Co. announces that re-enabled close tubing under pressure after the company for many years.

New oil production continues, next 3 months supply of crude oil, will reach 270,000 barrels a day. Libya's statement points out that continues to be the world oil glut "drowned".

Organization of petroleum exporting countries (OPEC) last month agreed with the other producers, to reduce daily output to about 2 million barrels, or almost 2% of global production.

Traders will be focused on whether oil-producing countries will "false" reduced yields, this "habit" has appeared in the past trying to suppress global output. Citi Futures analyst Tim Evans said, "the risk is that we see some confidence in the bull market at least over a long period of time, found that cuts to comply with enough or dissipates after the market has in fact into a supply deficit.