Oil prices jump on U.S. stock draw, easing production

Oil prices rose on Wednesday after a report of falling U.S. inventories and signs that U.S. oil production growth was leveling off after several years of very sharp increases. A report by industry body the American Petroleum Institute (API) on Tuesday showed a much sharper weekly fall in U.S. crude stocks than expected. The API report followed a separate prediction by the U.S. government that domestic oil production would fall more strongly and for longer than expected.

Oil prices jump on U.S. stock draw, easing production source: http://finance.yahoo.com/news/oil-prices-rise-u-stock-062126380.html