Crude oil inventories in the U.S. rose slightly last week, while crude production remained almost unchanged at a record high level, according to data released by the Energy Information Administration (EIA) on Friday.
Commercial crude oil stocks increased by 7,000 barrels, or 0.01 percent, to 441.4 million barrels for the week ending Dec. 28, the EIA data showed. The market expectation for crude stocks was a decline of 3.1 million barrels. Stocks fell by 46,000 barrels during the previous week.
Strategic petroleum reserves, which are not included in the commercial crude stocks, did not show change and remained at 649.1 million barrels last week, according to the data.
Gasoline inventories increased by 6.89 million barrels, or 3 percent, to 240 million barrels during that period, compared to the market expectation of an increase of two million barrels. During the previous week, gasoline inventories saw an increase of three million barrels.
- Crude production falls
The U.S.' crude oil production decreased slightly by 2,000 barrels per day (bpd) to around 11.7 million bpd for the week ending Dec. 28, according to the EIA. Crude oil production in the country has seen record high levels reaching 11.7 million bpd since the week ending Nov. 9.
Last week, while crude production fell by 2,000 bpd in the state of Alaska, it did not show change in other U.S. states excluding Hawaii.
This marked the 11th time crude oil production in the U.S. showed a decrease in the past 51 weeks.
The U.S.' crude oil production is expected to average 12.1 million bpd in 2019, according to the EIA's Short Term Energy Outlook report for December.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr