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US liquids production hit a record of 20.83M bpd in April, up roughly 50K barrels from March, per latest EIA Petroleum Supply Monthly report.

US oil and gas production reached record highs in April, says EIA

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Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.

The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April.

U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted in its monthly report.

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Source: World Oil

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Crude oil prices moved higher today after the US EIA reported an estimated inventory decline of 6.9 million barrels for the week to August 30.

Oil prices rise on large crude inventory draw

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Crude oil prices moved higher today after the U.S. Energy Information Administration reported an estimated inventory decline of 6.9 million barrels for the week to August 30.

A day earlier, the American Petroleum Institute reported its own inventory estimate, which saw these drop by a sizable 7.4 million barrels in the final week of August. Analysts polled by Reuters had expected a draw of around 1 million barrels.

The EIA’s previous report pegged the decline in oil inventories at a modest 800,000 barrels, with mixed changes in fuel inventories.

For the final week of August, gasoline and middle distillate inventories saw more mixed changes.

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Source: Oil Price

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