Petroleum

U.S. Still 2020 Global Leader in Petroleum, Natural Gas Production Despite Pandemic Drop-Off

U.S. Still 2020 Global Leader in Petroleum, Natural Gas Production Despite Pandemic Drop-Off

Even amid declines associated with the Covid-19 pandemic, the United States maintained its status as the globe’s leading producer of petroleum and natural gas in 2020, a recent analysis from the Energy Information Administration (EIA) shows. Domestic petroleum and natural gas output fell year/year in 2020 after reaching record highs in 2019, EIA said in…

July 22, 2021
Inventories of U.S. Oil Climb as Exports Taper, Imports Rise; Demand Holds Strong

Inventories of U.S. Oil Climb as Exports Taper, Imports Rise; Demand Holds Strong

U.S. crude stockpiles ended a summer-long streak of descensions even as domestic demand increased and production was flat, the U.S. Energy Information Administration (EIA) said Wednesday. The agency noted that exports of American crude dropped during the week, while imports climbed. U.S. commercial crude inventories — excluding those in the Strategic Petroleum Reserve — increased…

July 21, 2021
Despite Covid-19 Declines, U.S. Still World’s Leading Petroleum and NatGas Producer in 2020

Despite Covid-19 Declines, U.S. Still World’s Leading Petroleum and NatGas Producer in 2020

Even amid declines associated with the Covid-19 pandemic, the United States maintained its status as the globe’s leading producer of petroleum and natural gas in 2020, a recent analysis from the Energy Information Administration (EIA) shows. Domestic petroleum and natural gas output fell year/year in 2020 after reaching record highs in 2019, EIA said in…

July 20, 2021
U.S. Crude Inventories Extend Downward Slide; OPEC Reaches Tentative Production Compromise

U.S. Crude Inventories Extend Downward Slide; OPEC Reaches Tentative Production Compromise

Despite a second straight uptick in production and a rare weekly decline in demand this summer, U.S. crude oil inventories plunged notably for a fourth consecutive week, according to the U.S. Energy Information Administration (EIA). U.S. commercial crude inventories — excluding those in the Strategic Petroleum Reserve — decreased by 7.9 million bbl in the…

July 14, 2021
U.S. Crude Inventories Plunge Again as Demand Momentum Exceeds Supply

U.S. Crude Inventories Plunge Again as Demand Momentum Exceeds Supply

Domestic crude oil inventories dropped last week, continuing a trend as mounting demand alongside a rebound in travel and economic activity outstripped production, the U.S. Energy Information Administration (EIA) said Wednesday. Excluding those in the Strategic Petroleum Reserve, crude stocks plunged by 6.7 million bbl during the week ended June 25, EIA’s Weekly Petroleum Status…

June 30, 2021
U.S. Oil Inventories Drop as Demand Ramps Up and Production Dips, EIA Says

U.S. Oil Inventories Drop as Demand Ramps Up and Production Dips, EIA Says

Stockpiles of U.S. crude fell to a 2021 low last week after production eased and demand for petroleum products continued to climb – another in a string of indicators pointing to a tightening oil market. Domestic commercial crude inventories in the week ended June 18, excluding those in the Strategic Petroleum Reserve, decreased by 7.6…

June 23, 2021
U.S. Petroleum Demand Declines for Second Week; Oil Production Ticks Up

U.S. Petroleum Demand Declines for Second Week; Oil Production Ticks Up

Demand for U.S. petroleum fell for a second consecutive week, while crude production rebounded, the U.S. Energy Information Administration (EIA) said Wednesday. Refinery utilization, however, reached a 2021 high, the agency said in its Weekly Petroleum Status Report (WPSR). Refineries operated at 91.3% of their capacity and inputs averaged 15.9 million b/d during the week…

June 9, 2021
U.S. Petroleum Demand Eases, but Production Falls and Oil Inventories Recede, EIA Says

U.S. Petroleum Demand Eases, but Production Falls and Oil Inventories Recede, EIA Says

After climbing for two consecutive weeks, U.S. petroleum demand declined during the last week of May, the U.S. Energy Information Administration (EIA) said Wednesday. Still, refinery utilization reached a high for the year to date, and analysts anticipate demand to prove strong this summer. EIA said in its Weekly Petroleum Status Report (WPSR) overall petroleum…

June 4, 2021
Petroleum Demand in U.S. Jumps Again as Pandemic’s Grip on Travel Loosens, EIA Says

Petroleum Demand in U.S. Jumps Again as Pandemic’s Grip on Travel Loosens, EIA Says

U.S. petroleum demand climbed higher for a second consecutive week and oil inventories declined in tandem, the U.S. Energy Information Administration (EIA) said Wednesday. EIA said in its Weekly Petroleum Status Report (WPSR) that overall petroleum demand for the period ended May 21 rose 3.5% week/week after jumping 10% a week earlier, lifted by mounting…

May 26, 2021
U.S. Crude Inventories Decline Again; IEA Says 2021 Global Oil Demand to Outpace Production

U.S. Crude Inventories Decline Again; IEA Says 2021 Global Oil Demand to Outpace Production

Domestic oil inventories declined for a second consecutive week, falling by 400,000 bbl during the period ended May 7 and keeping stocks below the five-year average, the U.S. Energy Information Administration (EIA) said Wednesday. Stocks plunged by 8.0 million bbl — excluding those in the Strategic Petroleum Reserve – a week earlier as year/year demand…

May 12, 2021
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