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- The draw was driven by a stark drop in U.S. crude imports USOICI=ECI of 1.2 million barrels per day (bpd) as the weather shut in refineries and kept motorists off the road. The winter storms also caused 1 million-bpd drop in crude production to 12.3 million bpd, the biggest drop since September 2021, the EIA estimated.
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Why have US oil prices been falling?
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Jul 24, 2024 · (Bloomberg) -- Oil rose, clawing back from a run of losses, after a government report showed that US crude inventories fell to the lowest since February. West Texas Intermediate topped $77 a barrel after falling 5.5% since last Wednesday.
Sep 18, 2024 · U.S. crude oil stockpiles dipped to their lowest level in a year last week, while fuel inventories rose, the Energy Information Administration (EIA) said on Wednesday.
Oct 19, 2022 · The amount of oil in the SPR is down by roughly a third — 36% to be exact — since Biden took office in January 2021. That has left this emergency oil stockpile at its lowest point since...
Aug 23, 2022 · The US's strategic petroleum reserves have dropped to their lowest level since 1985. Stockpiles have fallen to 453 million barrels after President Joe Biden ordered a record release to ease...
- Harry Robertson
- Thomas Greaney And Finanzen.Net
Aug 5, 2024 · A simple calculation will show why. Since coming to the White House, the Biden administration withdrew a reported 288 mb from the SPR to use to depress oil prices reducing the SPR level to 350 mb.
Jan 24, 2024 · U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit crude production and imports, refining, and demand for fuel, the Energy Information...
Sep 22, 2021 · U.S. crude oil inventories last week fell to their lowest in nearly three years while gasoline stockpiles rose, the Energy Information Administration said on Wednesday, as the industry...
