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U.S. Crude Oil Production Rises, Inventories Continue to Decline
For the week ending May 29, 2015, U.S. crude oil refinery inputs averaged 16.4 million barrels per day, 43,000 barrels per day less than the previous week’s average. In the week, refineries operated at 93.2% of their operable level. (Source: U.S Energy Information Administration , June 3, 2015.)
In the same report, the U.S. Energy and Information Administration (EIA) said the U.S. crude oil inventories decreased by 1.9 million barrels from the previous week. It was the fifth straight week of a decline. The inventories stand at 477.4 million barrels. U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years.
Total products supplied over the last four-week period averaged over 19.9 million barrels per day, up by 4.3% from the same period last year.
Continue Reading>> U.S. Crude Oil Production Rises, Inventories Continue to Decline
