Oil futures fall due to unexpected increase in US crude inventory and ongoing OPEC production increases

From Dow Jones & Company: 2025-05-14 15:49:00

Crude futures settle lower after unexpected 3.5 million barrel U.S. crude inventory build and OPEC maintaining demand growth estimates. Market sees bearish tilt as barrels return to market at accelerated pace.

U.S. crude build not as negative as perceived, mostly in West Coast region. 1.1 million barrel draw at Cushing, Nymex delivery hub noted by Ritterbusch.

Strong refinery activity bullish for crude demand, but offset by ongoing increases in OPEC+ production. Expectation of increased crude imports and reduced exports due to production hikes.

Read more: Oil Futures Snap Winning Streak as U.S. Stocks Build