EIA: US crude and gasoline stocks continued to rise
The US exported about 2.7 million barrels per day of crude oil during the week, down by 1.3 million bpd compared to the week before.
The Energy Information Administration (EIA) in the latest weekly report said the US witnessed another buildup of 5.8 million barrels in commercial crude inventories in the week ending 5 April 2024 on reduced exports and refinery utilization rates.
At 457.3 million barrels, the commercial crude stocks are 2% below the five-year average for this time of year.
The US exported about 2.7 million barrels per day of crude oil during the week, down by 1.3 million bpd compared to the week before.
Meanwhile, refineries in the country operated at about 88.3% compared to 88.6% in the prior week.
Total motor gasoline stocks rose by another 700,000 barrels.
The US produced approximately 13.1 million barrels per day of crude oil during the week.