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U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

Inventories of U.S. oil continued to decline early in 2022 – extending a trend that developed last year – as petroleum demand climbed and production ticked down, the Energy Information Administration (EIA) said Wednesday. For the week ended Jan. 7, domestic commercial crude inventories, excluding those in the Strategic Petroleum Reserve, decreased by 4.6 million…

January 12, 2022
U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. oil producers, unfazed by the Omicron variant of the coronavirus and an anticipated lull in demand between the Christmas and New Year holidays, maintained production at a 2021 peak level during the final week of the year. The U.S. Energy Information Administration (EIA) said Wednesday that domestic crude output held at 11.8 million b/d…

January 5, 2022
Despite Omicron, U.S. Petroleum Demand Mounts and Production Hits 2021 Peak

Despite Omicron, U.S. Petroleum Demand Mounts and Production Hits 2021 Peak

Domestic consumption of gasoline and other petroleum products climbed last week, and producers boosted output to a 2021 high to meet the mounting demand, data from the U.S. Energy Information Administration (EIA) showed. The increases for the week ended Dec. 24 came even as the Omicron variant of the coronavirus spread rapidly throughout the Lower…

December 29, 2021
U.S. Crude Production Holds at 2021 Peak as Demand Spikes

U.S. Crude Production Holds at 2021 Peak as Demand Spikes

U.S. oil output last week held strong by pandemic standards, but demand for petroleum products surged during the period and inventories declined, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended Dec. 10 was flat at a 2021 high of 11.7 million b/d. It had climbed by 100,000 b/d each of…

December 15, 2021
Domestic Oil Production Hits 2021 High for Second Straight Week

Domestic Oil Production Hits 2021 High for Second Straight Week

U.S. oil output climbed to a new 2021 peak for a second consecutive week as Lower 48 producers continued to gradually ramp up to meet increased demand, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended Dec. 3 rose to 11.7 million b/d, up 100,000 b/d week/week, EIA said in its…

December 8, 2021
U.S. Crude Output Reaches ‘21 Peak; Focus Shifts to OPEC-Plus Production

U.S. Crude Output Reaches ‘21 Peak; Focus Shifts to OPEC-Plus Production

Domestic oil production reached a 2021 high last week as demand waned in the face of lofty prices, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended Nov. 26 rose to 11.6 million b/d, up 100,000 b/d from the prior week and far ahead of the 11.1 million b/d a year…

December 1, 2021
Domestic Crude Inventories Fall as Demand Jumps; Biden Calls for More Output, Attacks Energy Producers

Domestic Crude Inventories Fall as Demand Jumps; Biden Calls for More Output, Attacks Energy Producers

U.S. oil stocks fell for the first time in four weeks as Americans shrugged off lofty prices and demand rose, the U.S. Energy Information Administration (EIA) said Wednesday. EIA said crude inventories for the week ended Nov. 12, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.1 million bbl from the previous week.…

November 17, 2021
Domestic Oil Stocks Gain Ground as Production Ticks Up; OPEC-Plus Weighs Output Bump

Domestic Oil Stocks Gain Ground as Production Ticks Up; OPEC-Plus Weighs Output Bump

U.S. crude inventories increased last week as producers boosted supplies and demand only nudged ahead amid lofty fuel prices that kept consumption in check, albeit at solid levels. It marked the second consecutive weekly increase in stockpiles.  The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 29, excluding those…

November 3, 2021
U.S. Crude Inventories Rise as Petroleum Demand Tapers and Production Holds Steady, EIA Says

U.S. Crude Inventories Rise as Petroleum Demand Tapers and Production Holds Steady, EIA Says

Domestic oil stocks climbed while demand for gasoline and other fuels derived from crude slowed last week as Americans scaled back consumption following recent price surges. The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 22, excluding those in the Strategic Petroleum Reserve, increased by 4.3 million bbl from…

October 27, 2021
Domestic Oil Stocks Dip as Petroleum Demand Roars Back, Output and Imports Decline

Domestic Oil Stocks Dip as Petroleum Demand Roars Back, Output and Imports Decline

U.S. crude inventories declined for the first time in four weeks as demand for gasoline and other fuels derived from oil bounced back and imports and production slid lower. The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 15, excluding those in the Strategic Petroleum Reserve, decreased by 400,000…

October 20, 2021
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