The USA Energy Information Administration (EIA) announced that commercial crude oil stocks in the country decreased by 4 million 700 thousand barrels (1.1 percent) last week to approximately 423 million 600 thousand barrels. The market expectation was that inventories would decrease by 2 million 633 thousand barrels.
Strategic crude oil stocks, which are not included in commercial crude oil stocks, fell to 596 million 400 thousand barrels with a decrease of 2 million 500 thousand barrels (0.4 percent). It increased to 224 million 100 thousand barrels. Oil production decreased. The crude oil imports of the USA decreased by an average of 277 thousand barrels per day compared to the previous week and became 6 million 194 thousand barrels, while its exports decreased by an average of 766 thousand barrels per day to 2 million 879 thousand barrels. oil production decreased by 95 thousand barrels in the week of 11-17 December and amounted to approximately 12 million 54 thousand barrels. According to the EIA's November 2021 Short-Term Energy Outlook Report, the average daily crude oil production of the USA was 11 million 130 thousand barrels this year. It is expected to be 11 million 900 thousand barrels next year.
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