Analysts had on average been looking for a 1.33 m barrel increase Movement.up.gain , according to Thomson Reuters data .

U.S. crude stocks increased Movement.up.gain by 6 million barrels in the week to Feb. 7 to 438.9 million barrels , beating analysts ' expectations for an increase Movement.up.gain of half a million , data from industry group the American Petroleum Institute showed .

`` The increase Movement.up.gain in production is definitely benefiting the United States , '' said Professor Paul Stevens at the Chatham House think tank in London .

The EIA , the statistical arm of the U.S. Department of Energy , said the increase Movement.up.gain was largely the result of sharply rising Movement.up.gain U.S. crude production .

Oil Minister Bijan Zanganeh said Tehran could increase Movement.up.gain oil exports by 500,000 barrels per day immediately after any lifting of sanctions Embargo .

LONDON -LRB- Reuters -RRB- - OPEC trimmed Cause.movement.down.loss its 2014 global oil demand growth forecast for a second consecutive month and said the group managed to increase Movement.up.gain output in July despite violence Civil.unrest in Iraq and Libya , pointing to more Movement.up.gain comfortable global supplies .

November nonfarm payrolls notched their largest increase Movement.up.gain since Jan 2012 , jumping to 321,000 compared with October figures of 243,000 .

The move has created disruption Movement.down.loss for some refiners , but has not led to a dramatic increase Movement.up.gain in the oil price in 2019 .

The bulls might get what they 're waiting for in June if Opec decides to maintain Movement.flat or even increase Situation_deteriorate supply restrictions Cause.movement.down.loss , thus providing support for higher Movement.up.gain oil prices .

U.S. crude inventories rose Movement.up.gain by 6 million barrels in the week to Feb. 7 to 438.9 million barrels , beating analysts ' expectations for an increase Movement.up.gain of 3 million barrels , data from industry group the American Petroleum Institute showed .

The agency said a mild winter in Europe and the U.S. and problematic conditions in emerging markets like China could increase Situation_deteriorate the supply surplus Oversupply as there may be no change Movement.flat in the supply situation for the near-term with Russian supply likely to remain plentiful Grow.strong in 2016 as well .

For now , however , the U.S.-led increase Movement.up.gain in output and diminished Slow.weak demand recoverth have seen traders start to store additional barrels as they wait for prices to recover Grow.strong .

However , concerns Negative_sentiment of oversupply Oversupply resurfaced on Monday after Russia reported an increase Movement.up.gain in production in March , to 10.97 million bpd from 10.95 million bpd in February .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures increased Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed turmoil Civil.unrest could hit Iraq 's output and increase Situation_deteriorate a supply shortage Shortage from chaotic Russia and sanctions-bound Iran .

An OPEC estimate shows that global inventories will contract Movement.down.loss sharply in the second half if the pact is extended , giving the group scope to increase Movement.up.gain supply .

It expects demand growth to increase Movement.up.gain by 1.05 million bpd , below Movement.down.loss 2.100 million barrels from January .

`` Very quickly we can increase Movement.up.gain by half a million and after a couple of months we can increase Movement.up.gain it to 700,000 barrels per day , '' he said .

`` Very quickly we can increase Movement.up.gain by half a million and after a couple of months we can increase Movement.up.gain it to 700,000 barrels per day , '' he said .

`` That means the slide Movement.down.loss will be temporary and exports should increase Movement.up.gain in 2020 . ''

The gasoline production will increase Movement.up.gain to 18 percent , from 14 percent , while fuel oil will plummet Movement.down.loss more than 15 percent points , declining Movement.down.loss to 15 percent of refined products made in Russia .

Brent crude futures -LRB- LCOc1 -RRB- have risen Movement.up.gain 20 percent in 2019 to around $ 63 a barrel , but most of that increase Movement.up.gain took place in early January .

In the Middle East , the the world 's biggest producers plans to increase Movement.up.gain its oil production to 17 million tonnes per year by 2020 , it said on Sunday .

In the Middle East , the Abu Dhabi National Oil Co plans to increase Movement.up.gain its oil production to 4 million bpd by the end of 2020 , it said on Sunday .

Meanwhile , U.S. budget concerns Negative_sentiment persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama 's demand for straightforward bills to run the government beyond September 30 and to increase Movement.up.gain borrowing authority to avoid a default .

Saudi Arabia has also cut Cause.movement.down.loss production more than pledged , giving it room to increase Movement.up.gain output without violating the agreement .

But the biggest hit across the sector in Europe will be the increase Movement.up.gain in diesel and gasoline exports , which will cut Cause.movement.down.loss into the margins they can expect from their own production .

Looking ahead into the second quarter , I expect oil futures to continue to increase Movement.up.gain while being kept in check by plentiful Grow.strong US shale output levels and caution over the prospect of a weakning Slow.weak in domestic consumption .

But the increase Movement.up.gain , which followed a deal to end a near year-long rebel port blockade , has come at a time when the government is losing control of the country , with an armed group taking over the capital Tripoli last week .

Total motor gasoline inventories rose Movement.up.gain by 1.7 million barrels , significantly higher Movement.up.gain than expectations for a 0.5 million barrel increase Movement.up.gain and the biggest gain Movement.up.gain since early April .

`` The other ones - the production will increase Movement.up.gain gradually . ''

The EIA also reported an increase Movement.up.gain in gasoline inventories of 419,000 barrels , after a 700,000-barrel build Movement.up.gain estimated the previous week .

Even before the Baker Hughes data release , crude prices were trading down Movement.down.loss on the day on reports of a ceasefire Civil.unrest in oil-rich Libya -- a development that looked set to increase Movement.up.gain global production .

Between 2017 and 2040 the IEA estimates that more solar power capacity will be added globally each year than any other source of energy , with an annual average increase Movement.up.gain of nearly 70 gigawatts .

Transneft hopes to increase Movement.up.gain annual diesel exports from the port to 18 million tonnes by early 2017 from an expected 11 million tonnes in 2014 .

VIENNA ( Reuters ) - OPEC sailed through a brief , calm meeting on Wednesday - even as oil futures added Movement.up.gain to $ 110 a barrel on concern Negative_sentiment renewed conflict Civil.unrest could hit Iraq 's output and increase Situation_deteriorate a supply shortage Shortage from chaotic Libya and sanctions-bound Iran .

But a 3.8 million barrel increase Movement.up.gain at the Cushing , Oklahoma delivery hub for U.S. crude offset the overall decline Movement.down.loss in inventory .