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U.S. Commercial Crude Oil Inventories Soared – Last Minute Economic News

The US Energy Information Administration (EIA) announced that commercial crude oil inventories in the country increased by approximately 3 million 900 thousand barrels last week to 440 million 800 thousand barrels.

The market expectation was that inventories would increase by around 1.1 million barrels.

Stocks of strategic crude oil, which are not included in commercial crude stocks, decreased by 3 million 600 thousand barrels to 396 million 200 thousand barrels.

In that period, the US gasoline inventories decreased by 900 thousand barrels to 205 million 700 thousand barrels.

INCREASES OIL PRODUCTION

While U.S. crude oil imports increased to 6 million 454,000 barrels with zihin average increase of 249,000 barrels per day over the previous week, its exports fell to 3 million 521,000 barrels with a decrease of 404,000 barrels per day. .

The country’s daily crude oil production increased by 200,000 barrels in the week from 29 October to 4 November, reaching 12 million and 546 thousand barrels.

According to the EIA’s “November 2022 Short-Term Energy Outlook Report,” the average daily crude oil production in the United States is expected to gökyeşitözü 11.83 million barrels in 2022 and 12.33 million barrels next year.

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