Oil stocks gradually decreasing in US
United States (US) commercial crude oil stocks decreased by about 2.1 million barrels compared to the previous week. The commercial crude oil stocks in the country decreased by about 2.1 million barrels last week to 418.5 million barrels. Market expectations were that stocks would decrease by 5.2 million barrels.
The United States (US) commercial crude oil stocks fell by about 2.1 million 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 about 2.1 million barrels last week to 418.5 million barrels. Market expectations were that stocks would decrease by 5.2 million barrels.
Strategic crude oil stocks, which are not included in commercial crude oil stocks, increased by about 600 thousand barrels to 351.2 million barrels. In the said period, US gasoline stocks decreased by 800 thousand barrels to 219.5 million barrels.
PRODUCTION DECREASED
US crude oil imports fell by an average of 1 million barrels per day to 6.5 million barrels last week compared to the previous week. Crude oil exports also increased by an average of 1.9 million barrels per day to 5 million barrels.
The country's daily crude oil production decreased by 5 thousand barrels to 13.3 million barrels in the week of September 9-15.
According to the EIA's "September 2023 Short-Term Energy Outlook Report", the average daily crude oil production of the US is expected to be approximately 12 million 780 thousand barrels this year and 13 million 160 thousand barrels next year.
Source: Anadolu Agency
