article thumbnail

Crude Stockpiles Rise, But Gasoline and Distillates See Big Draws

OilPrice

Crude oil inventories in the United States saw an increase of 1.4 Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. crude oil inventories amid strong product draws. The Brent benchmark was trading

article thumbnail

Oil Prices Dip Despite Bullish Demand Outlook

OilPrice

Crude oil prices dipped today, despite expectations for strong demand following the U.S. Energy Information Administrations latest inventory report that showed a more sizable draw than expected. At the time of writing, Brent crude was trading at $70.87 per barrel, with West Texas Intermediate at $67.55

Crude Oil 213
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Oil Prices Rebound on Resilient Demand Signals

OilPrice

Crude oil prices inched higher after starting the week with sharp losses, amid reports of rebounding Asian imports and a weaker dollar that should stimulate stronger demand. At the time of writing Brent crude was trading at $70.05 per barrel, with West Texas Intermediate at $66.75 per barrel, as the U.S.

Oil 211
article thumbnail

Crude oil extraction may be well past peak

Energy Central

World crude oil extraction reached an all-time high of 84.6 World monthly crude oil production based on data of the US Energy Information Administration (EIA). million barrels per day in late 2018, and production hasn’t been able to regain that level since then.

article thumbnail

EIA Forecasts Continued Increasing USA Crude Oil Production in 2025, 2026

Rigzone: News

Energy Information Administration revealed its latest U.S. crude oil production forecasts in its January short term energy outlook.

article thumbnail

Energy Market Assessment: Restoring upward mobility of the masses will have a profitable oil & gas drilling boom

Oil & Gas 360º

Energy Information Administration) Existing infrastructure, infrastructure trends and The Climate Changing to stimulating will now need a Drilling Boom to fuel Winter and Summer. Energy Information Administration data) U.S. crude oil supply growth smaller than what it has been/ what is expected fuels our bullish oil outlook.

Oil 130
article thumbnail

US crude inventories rise, fuel draws down amid ongoing maintenance, EIA says

BOE Report

crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.4 million barrels to 435.2