Trading on oil market sees sharp price increase

REUTERS

Oil prices rose following the release of a statement from the U.S. Energy Information Administration (EIA), the news agency said.

The EIA said it expects a decline in shale oil production for the first time in four years. The output of oil in May compared to April will decrease by 45,000 barrels per day, and amount to 4.98 million barrels.

 According to EIA estimates, if oil production volumes remain unchanged in 2015, oil inventories in the United States will rise to 540 million barrels.