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Weekly figures from EIA show that domestic crude output has dropped to 10.7 million barrels per day, since reaching 13.1 million in the second week of March.
The federal government's EIA report revealed that crude inventories rose by 3.1 million barrels, compared to the 1.3 million barrels increase that energy analysts had expected.
Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
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Weekly Energy Inventory Data: Seen at 10:30am ET on Wednesdays and Thursdays. Sharon Epperson reports from the NYMEX on the weekly inventory data for crude oil, gasoline, distillates (on Wednesdays), and natural gas (on Thursdays). Suze Says: This segment, with Suze Orman, is seen on Mondays.
On Thursday, West Texas Intermediate crude oil futures fell 4.9% to settle at $72.90 per barrel. Brent ( BZ=F ) crude oil, the international benchmark price, fell by 4.63% to close at $77.42 per ...
On May 6 WTI fell after five days of increases, settling at $23.99 a day after a 20 percent jump to the highest close since April 17 with expectations of higher demand as countries around the world eased restrictions. Brent finished at $29.72 a day after a 14 percent jump. U.S. crude inventories were up for the 15th week, but by less than expected.
The latest government data showed crude inventories increased by 5.5 million barrels last week, versus analysts' expectations of an increase of 1 million barrels, per Bloomberg data.