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U.S. Petroleum Production, Demand Flat as Ida’s Impacts Linger

U.S. Petroleum Production, Demand Flat as Ida’s Impacts Linger

The aftershocks of Hurricane Ida kept a lid on petroleum output and demand last week, long after the storm hammered Louisiana and production facilities in the Gulf of Mexico (GOM) on Aug. 29, the latest U.S. Energy Information Administration (EIA) inventory report showed. For the week ended Sept. 10, production inched ahead to 10.1 million…

September 15, 2021
U.S. Petroleum Demand Holds Strong Even as Delta Variant Raises New Worries

U.S. Petroleum Demand Holds Strong Even as Delta Variant Raises New Worries

Consumption of U.S. petroleum climbed last week, driven by demand for jet and distillate fuels, while production ticked up and inventories dropped, the U.S. Energy Information Administration (EIA) said Wednesday.  The boost in consumption extended a summer-long trend — a few weekly interruptions aside — despite mounting coronavirus cases that forced downward revisions to oil…

August 18, 2021
U.S. Petroleum Demand Tapers, Output Ticks Up; White House Calls for OPEC-Plus Production Hike

U.S. Petroleum Demand Tapers, Output Ticks Up; White House Calls for OPEC-Plus Production Hike

Demand for U.S. petroleum eased last week after strong summer gains overall, while domestic production inched up but held far below pre-pandemic levels. Stockpiles of U.S. crude decreased slightly, however, as imports also declined, the U.S. Energy Information Administration (EIA) said Wednesday. Commercial oil inventories in the week ended Aug. 6 — excluding those in…

August 12, 2021
Stockpiles of U.S. Crude Drop as Demand Mounts, Production Tapers

Stockpiles of U.S. Crude Drop as Demand Mounts, Production Tapers

With output falling and demand rising, U.S. crude inventories resumed a downward trend last week, the U.S. Energy Information Administration (EIA) said Wednesday.   U.S. commercial oil inventories in the week ended July 23, excluding those in the Strategic Petroleum Reserve, decreased by 4.1 million bbl from the previous week. At 435.6 million bbl, U.S. crude…

July 28, 2021
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