Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles helped counter fears that supplies may gain after the U.S. was said to ask OPEC to boost output. Futures in New York were little changed, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories fell over 2 million barrels last week. Meanwhile, the U.S. government has asked Saudi Arabia and some other members of the Organization of Petroleum Exporting Countries to increase output by about 1 million barrels a day, according to people familiar with the matter.
Source: FuelFix
