Petroleum

Even as sanctions mount against energy-rich Russia amid its war in Ukraine — intensifying concerns about global crude supplies — U.S. oil output is holding steady, the Energy Information Administration (EIA) said Wednesday. Production for the week ended March 4 held at 11.6 million b/d, EIA’s latest Weekly Petroleum Status Report showed. It hovered at…

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…

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…

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…

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…

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…

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…

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.…

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…