Oil Inventories Reach 80-Year High, GM Closes Russia Car Plant

US crude oil inventories have increased by 9.6 million barrels, the Energy Information Administration reported today. At 458.5 million barrels, oil supplies are now at their highest level in at least 80 years for this time of year.

General Motors Co. announced it is closing its production plant in Russia due to increasing risk and economic uncertainty in the country. The car maker also said it will stop selling many of its products in Russia.

Lack of sales growth during Oracle’s most recent quarter hurt the company’s revenue and lead to declining profits. Oracle reported year-over-year revenue of $9.3 billion, short of Wall Street expectations.

Boeing has delivered its first 787-9 Dreamliner plane produced at its South Carolina production plant. The plane went to United Airlines.

 

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