Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Oil reserves in the United States decreased less than forecast


July, 19 2023
watermark Economic news

According to the weekly report of the U.S. Energy Information Administration (EIA), commercial oil reserves, excluding the strategic reserve, decreased by 0.7 million barrels, or 0.2%, to 457.4 million barrels for the week ended July 14.


Analysts had expected a decrease in inventories by 2.4 million barrels. Oil reserves at the largest terminal in Cushing decreased from 41.2 million to 38.3 million barrels.


Gasoline inventories decreased by 1.1 million barrels, or 0.5%, to 218.4 million barrels, while analysts expected a reduction of 1.6 million barrels. Distillate stocks remained at the level of last week — 118.2 million barrels, while an increase of 0.5 million was forecast.


Oil production in the United States for the week remained at the level of the previous week and amounted to 12.3 million barrels per day. On average, over the past four weeks, oil production in the United States also amounted to 12.3 million barrels per day. All last year, the average production was estimated at 11.89 million barrels per day.


Recall, on July 11, the Ministry of Energy lowered the forecast of average oil production in the country for the current year by 50 thousand barrels per day to 12.56 million barrels, and for 2024 increased by 80 thousand barrels per day to 12.85 million barrels per day.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.