Crude Oil Stocks Increased In The USA

Crude oil stocks increased in the USA. Commercial crude oil stocks in the country increased by 2 million 400 thousand barrels.

The US Energy Information Administration (EIA) released weekly commercial crude oil stock data. According to the data released by the US Energy Information Administration (EIA), commercial crude oil stocks in the country increased by 2 million 400 thousand barrels (0.5 percent) last week to approximately 500 million 800 thousand barrels. The expectation of the markets was that the stocks would increase by approximately 2 million 700 thousand barrels. Strategic crude oil stocks, which were not included in the commercial crude oil stocks, did not change and remained stable at the level of 637 million 800 thousand barrels. In the said period, the gasoline stocks of the USA increased by 500 thousand barrels and it was recorded as 232 million 100 thousand barrels.   Increase in Oil Production Crude oil imports of the USA decreased by an average of 332 thousand barrels per day compared to the previous week, and oil exports decreased by approximately 5 million 323 thousand barrels per day compared to the previous week, and oil exports decreased by an average of 113 thousand barrels per day and recorded as 2 million 520 thousand barrels. The daily crude oil production of the USA increased by 1000 barrels in the week of March 6-12, reaching 11 million 360 thousand barrels. According to the EIA's March 2021 Short-Term Energy Outlook Report, the average daily crude oil production of the USA is expected to be 11 million 100 thousand barrels this year and 12 million barrels next year.