Oil prices ended lower on Wednesday after official data showed U.S. crude stockpiles rose more than expected last week.
The West Texas Intermediate for July delivery lost 0.79 U.S. dollar to settle at 64.73 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery fell 0.02 dollar to close at 75.36 dollars a barrel on the London ICE Futures Exchange.
The Energy Information Administration (EIA) said on Wednesday in its weekly report that the U.S. crude inventories added 2.1 million barrels in the week ending on June 1, while analysts had forecast a decrease of 1.8 million barrels.
EIA also said U.S. crude output hit a record of 10.8 million barrels a day in the week.
Moreover, traders have been paying close attention to an OPEC meeting scheduled later this month. It is expected that OPEC and other major oil producers will decide whether to raise output to cool the booming market.
Sources:cctvplus
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