US crude oil stocks down - News-Credit-Mortgage-Coin

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Thursday, September 9, 2021

US crude oil stocks down

 The commercial crude oil stocks of the USA decreased by 7 million 200 thousand barrels last week compared to the previous week.



The US Energy Information Administration (EIA) announced that commercial crude oil stocks in the country decreased by 7 million 200 thousand barrels (1.7 percent) last week to approximately 425 million 400 thousand barrels.


The market expectation was that inventories would decrease by 2 million 833 thousand barrels.


Strategic crude oil stocks, which are not included in commercial crude oil stocks, remained stable at 621 million 300 thousand barrels.


In the said period, US gasoline stocks increased by 1 million 300 thousand barrels (0.6 percent) to 227 million 200 thousand barrels.


OIL PRODUCTION INCREASED

The crude oil imports of the USA increased by an average of 183 thousand barrels per day compared to the previous week and reached approximately 6 million 340 thousand barrels, while its exports increased by an average of 228 thousand barrels per day and reached 3 million 40 thousand barrels.


The country's daily crude oil production increased by 81 thousand barrels in the week of August 21-27, reaching approximately 11 million 904 thousand barrels.


According to the EIA's August 2021 Short-Term Energy Outlook Report, the average daily crude oil production of the USA is expected to be 11 million 100 thousand barrels this year and 11 million 800 thousand barrels next year.

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