U.S. crude oil reserves experienced an unexpected decrease of 600,000 barrels, according to a report released last week by the Energy Information Administration.

This development contradicts the projections of experts in the field, who expected an increase of 500,000 barrels during the period from September 13 to 19.

According to information provided to Bloomberg, “reserves fell to 414.8 million barrels, despite the fact that during that period crude oil production increased to 13.5 million barrels per day, near its record level, and that the United States increased imports by 14% and reduced exports by 15%.”

At the same time, the country’s refineries reduced their capacity from 93.3 % to 93 %. As is known, lower refinery activity tends to increase crude oil reserves, since less oil is being refined.

On the other hand, there was a slight increase in refined products on the market (+0.76 %), as a result of the growth in gasoline deliveries (+1.70 %).

M. Pino

Source: bancaynegocios

(Reference image source: Zbynek Burival on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada U.S. crude oil reserves fell by 600,000 barrels apareció primero en Bitfinance.