According to the U.S. Energy Information Administration (EIA) data, crude oil production in the country increased by an average of 101 thousand barrels daily compared to the previous week.
Average daily crude oil production increased by one thousand barrels in Alaska state and by 100 thousand barrels in other states.
Thus, in the week of February 22-28, a new record in daily production was broken in the USA, the world’s largest crude oil producer, with approximately 13.1 million barrels.
US daily average crude oil production had reached a record 13 million barrels in the last week of January 4-10.
CRUDE OIL STOCK INCREASED
Commercial crude oil inventories in the country increased by 800 thousand barrels (0.2 percent) last week and reached 444.1 million barrels. The market expectation was that inventories would increase by 2.6 million barrels. Crude oil stocks had increased 500 thousand barrels in the previous week.
Strategic crude oil stocks, which were not included in the commercial crude oil stocks, remained unchanged last week and remained at 635 million barrels.
Meanwhile, US gas stocks fell by 4.3 million barrels (1.7 percent) last week to 252 million barrels. The market expectation for gasoline stocks was to drop by 2.1 million barrels. Gas stocks had decreased by 2.7 million barrels in the previous week.
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