U.S. crude oil stockpiles rose by millions more than expected this week, dropping oil prices.

The American Petroleum Institute reported rises in crude stocks that were much higher than expected. This comes soon after OPEC’s decision not to decrease crude output last month.

Crude stocks rose by about 7 million barrels, 5 million more than expected. Petroleum and distillate stocks both also rose above the forecasted amounts.

The price of crude has dropped from the four-month high experienced at the end of last month, at 54$ per barrel, to around $48-50 after the API released it’s stockpile figures.

The predictions that oil price would drop further after the OPEC announcement seem to be accurate, with the four month high of $54 per barrel being a temporary one.