Crude oil inventories in the United States saw a decrease of 2 million barrels during the week ending May 2, according to new data from the U.S. Energy Information Administration released on Wednesday.
Crude oil inventories in the United States saw a decrease of 3.3 million barrels during the week ending March 21, according to new data from the U.S. Energy Information Administration released on Wednesday.
Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration after the American Petroleum Institute (API) reported on Tuesday a draw of 4.6 million barrels in U.S. crude oil inventories amid a strong gasoline draw. The Brent benchmark was trading up 0.88% at 9:39 a.m. ET at $73.66—a roughly $3 per barrel increase over this same time last week. The WTI benchmark, meanwhile, was trading up 0.84% at $69.58—just shy of a $3 per barrel rise over last week’s levels.
According to the STEO, the EIA now sees the Brent spot price averaging $74.22 per barrel this year and $68.47 per barrel next year. In its previous STEO, which was released in February, the EIA projected that the Brent spot price would average $74.50 per barrel in 2025 and $66.46 per barrel in 2026.
Crude oil inventories in the United States saw a decrease of 2.3 million barrels during the week ending February 21, according to new data from the U.S. Energy Information Administration released on Wednesday.
Crude oil inventories in the United States saw a build of 4.6 million barrels during the week ending February 14, according to new data from the U.S. Energy Information Administration.
Crude oil inventories in the United States saw a build of 4.1 million barrels during the week ending February 7, according to the U.S. Energy Information Administration.
In its February short term energy outlook (STEO), which was released on Tuesday, the U.S. Energy Information Administration (EIA) revealed its latest Brent spot price forecasts for 2025 and 2026.
Crude oil inventories in the United States saw a large build of 3.5 million barrels during the week ending January 24, according to the U.S. Energy Information Administration.
The U.S. Energy Information Administration (EIA) revealed its latest U.S. crude oil production forecasts in its January short term energy outlook (STEO), which was published on January 14 and completed its forecast on January 9.
Global oil markets will face a widening glut in 2026 as OPEC brings back production and output from the U.S., Canada and Guyana continues to grow, the U.S. government said in its first set of forecasts for next year.