US Commercial Crude Oil Stockpiles Decline – Last Minute Economy News

The US Energy Information Administration (EIA) said commercial crude inventories in the country fell by about 3.7 million barrels last week to 431.7 million barrels. The market’s expectation was that inventories would decrease by about 2 million 200 thousand barrels.

Strategic crude inventories, which are not included in commercial crude inventories, decreased by 1.6 million barrels to 390.5 million barrels.

During the same period, US gasoline inventories increased by 3.1 million barrels and were recorded at 211 million barrels.

OIL PRODUCTION HAS NOT CHANGED

U.S. crude imports increased to 7.63 thousand barrels, zihin average increase of 1.5 million barrels per day over the previous week, and its exports increased by 380,000 barrels per day to 4.242 thousand barrels.

The country’s daily crude oil production remained stable at 12.548 million barrels in the week of Nov. 12-18.

According to the EIA’s November 2022 Short-Term Energy Outlook Report, average daily U.S. crude oil production is expected to gökyeşitözü 11.83 million barrels in 2022 and 12.31 million barrels next year.