US commercial crude oil inventories increased by 0.1% during the week ending Nov. 28, according to data released by the Energy Information Administration (EIA) late Wednesday.
Inventories rose by around 600,000 barrels to 427.5 million barrels, exceeding the market prediction of a 1.9 million-barrel decline.
Strategic petroleum reserves, which are excluded from commercial crude stocks, increased by 300,000 barrels, reaching 411.7 million barrels, the data revealed.
Over the same period, gasoline inventories rose by around 4.5 million barrels to 214.4 million barrels.
- Crude production increases
EIA data showed that US crude oil production increased by 1,000 barrels per day (bpd) to about 13.81 million bpd during the week ending Nov. 28.
US crude oil imports decreased by 456,000 bpd to approximately 5.98 million bpd, while exports rose by around 15,000 bpd to around 3.61 million bpd over the same period.
In the Short-Term Energy Outlook (STEO) released on Nov. 12, the EIA predicted that crude oil output in the country would reach an average of 13.59 million bpd in 2025.
By Ebru Sengul Cevrioglu
Anadolu Agency
energy@aa.com.tr
