The American Petroleum Institute (API) estimated that crude oil inventories in the United States decreased by 11.1 million barrels in the week ending January 30. Crude oil inventories decreased by 247,000 barrels in the week prior. Inventories in the US Strategic Petroleum Reserve (SPR) keep climbing week after week. The Department of Energy (DoE) reported that crude oil inventories in the SPR rose by 200,000 barrels to 415.2 million barrels in the week ending January 30. This is 310.3 million barrels shy of maximum capacity. US production fell…