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)

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Personal online purchases through platforms such as Amazon, Shein, or Temu in Ecuador will be subject to a 20 % tax starting June 16, according to the Ministry of Production and Foreign Trade.

The local government has reported that the tariff directly affects all imports under the Courier 4×4 (Category B) regime. It clarified that the annual limit of $1,600 per user remains in place.

With this measure, the Ecuadorian government seeks to “prevent informal commercial use of the 4×4 system, designed for personal purchases from abroad.”

Local sources have reported significant growth in online commerce over the past four years, with a 392 % increase in value (from $102.7 million to $502 million in 2024) and a 637 % increase in the number of packages (from 879,000 to 6.5 million).

The measure is expected to contribute to other executive branch initiatives aimed at protecting domestic production and employment from unfair competition from foreign platforms such as Temu or Shein, which directly affect the footwear and textile sector in the South American country.

M.Pino

Source: elnacional

(Reference image source: Shutter Speed on Unsplash)

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La entrada Ecuador establishes 20 % tariff on personal online purchases apareció primero en Bitfinance.