US Crude Inventories Fall 600,000 Barrels to 423.4 Million
US commercial crude oil stocks dropped below market expectations. Strategic petroleum reserves also declined in the latest weekly report.
US commercial crude oil inventories decreased by 600,000 barrels in the week ending September 11. Total stocks stood at 423.4 million barrels. This decline was smaller than the 1.6 million barrel drop predicted by analysts.
Strategic petroleum reserves fell by 400,000 barrels to 285 million barrels. Gasoline inventories rose by 800,000 barrels to 207.7 million barrels. The data was released by the Energy Information Administration on Wednesday.
Production and trade flows shift
US crude oil production dropped by 3,000 barrels per day. Output reached approximately 13.94 million barrels per day. Imports increased by 234,000 barrels per day to 7.06 million barrels per day.
Exports rose by 1.41 million barrels per day. Total exports reached 4.83 million barrels per day. These figures reflect changes in the week ending September 11.
Future output forecast lowered
The Energy Information Administration updated its Short-Term Energy Outlook on September 9. The agency now forecasts average US crude output of 13.83 million barrels per day for 2026. This projection follows the recent weekly data release.
GN auto markets/energy reported the initial inventory figures. The market reaction focused on the smaller than expected stock draw. Production trends remain a key variable for future pricing.
