USA's Crude Oil Stocks Decreased

USA's Crude Oil Stocks Decreased USA's crude oil stocks decreased. The country's stocks fell 6.1 million barrels last week. The US Energy Information Administration (EIA) shared weekly data on the country's commercial crude oil stocks. According to the data released, commercial crude oil stocks in the US dropped 6.1 million last week compared to the previous week and fell to 493.5 million barrels. The decline forecast of the market was that it would be 2.1 million. Strategic crude oil stocks, which were not included in the commercial crude oil stocks, remained unchanged and were recorded at 638.1 million barrels. In the mentioned period, the gasoline stocks of the USA decreased by 1.2 million barrels to 236.6 million barrels.   Decrease in Crude Oil Production The crude oil imports of the USA reached 5.3 million barrels with a decrease of 238 thousand barrels per day compared to the previous week, while oil exports reached 3.6 million barrels with an increase of 526 thousand barrels per day. The daily crude oil production of the country decreased by 2 thousand barrels in the week of December 19-25 and was approximately 11.5 million barrels. According to the December 2020 Short-Term Energy Outlook Report of the EIA (US Energy Information Administration), the average daily production of crude oil in the US is expected to be 11.3 million barrels this year and 11.1 next year.