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    Home » US Crude Oil Stockpiles Fall by 4.7 M Barrels
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    US Crude Oil Stockpiles Fall by 4.7 M Barrels

    December 22, 20211 Min Read
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    Petroleum. Concept - reduction of crude oil production. Decline in production led to higher prices. Concept - result of OPEC negotiations. Oil rig near the graphs.
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    US crude oil inventories dropped by 4.7 million to 423.6 million barrels in the week closing December 17.

    • The total commercial petroleum inventories were reduced by 7 million barrels per week in the same period.
    • Crude oil refinery inputs hovered around 15.8 million barrels per day in the same week. That figure was 148,000 barrels per day, more than the prior week’s average.
    • Gasoline production dropped last week, hovering around 9.9 million barrels per day as refineries operated at 89.6% of their operable capacity in the same period.
    • Meanwhile, crude oil imports averaged 6.2 million barrels per day last week, a decrease of 277,000 barrels compared to the prior week.

    Total product supplied over the last four-week period hovered around 20.9 million barrels per day, an increase of 11.0% from the same period last year.

    CL1! Up +0.66%, USOIL up +0.49%

    Source: EIA

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