US commercial crude oil inventories increased
US commercial crude oil inventories increased by approximately 7 million 300 thousand barrels last week compared to the previous week.
The US Energy Information Administration (EIA) announced that the country's commercial crude oil inventories increased by approximately 7 million 300 thousand barrels last week, rising to 460 million 900 thousand barrels.
Market expectations were for a decrease of approximately 2 million 300 thousand barrels in inventories.
Strategic crude oil inventories, which are not included in commercial crude oil inventories, also increased by approximately 600 thousand barrels, reaching 366 million 300 thousand barrels.
During the same period, US gasoline inventories increased by approximately 300 thousand barrels, reaching 227 million 100 thousand barrels.
OIL PRODUCTION DECREASED
US crude oil imports increased by an average of 274 thousand barrels per day last week compared to the previous week, reaching 6 million 772 thousand barrels, while crude oil exports decreased by an average of 1 million 261 thousand barrels per day to 3 million 918 thousand barrels.
The country's daily crude oil production decreased by 7 thousand barrels during the week of April 20-26, recorded at 13 million 530 thousand barrels.
According to the EIA's "April 2024 Short-Term Energy Outlook Report," the US average daily crude oil production is expected to be 13.2 million barrels this year and 13.7 million barrels next year.
News Source: 12punto
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