The oil reserves in the United States fell by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE). However, this figure is well above the 1.7 million barrel decrease
The US oil reserves decreased by 5.96 million barrels last week, totaling 439.662 million barrels, as reported by the Department of Energy (DoE)
Gasoline reserves dropped by 262 thousand barrels to 216.158 million barrels, compared to an expected decrease of 1.2 million barrels. On the other hand, distillate reserves increased by 296 thousand barrels to 115.743 million barrels, contrary to the anticipated decrease of 100 thousand barrels.
The utilization rate of refineries in the US increased from 93.8% in the previous week to 94.7% in the most recent week, according to the DoE. The forecast was 94.1%. As for the oil reserves at the Cushing distribution center, they decreased by 837 thousand barrels to 33.802 million barrels. The average daily oil production in the United States rose from 12.6 million to 12.7 million barrels this week.
