Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list

US oil production climbs to record as net imports decline

LNG | NGL | Oil | Crude Oil | Petrochemicals | Shipping

Gains in WTI, robust petrochemical demand add strength to US NGLs

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Metals | Steel | Raw Materials | Coronavirus

Trade review: China-Australia relations transform met coal market dynamics

Emissions | LNG | Natural Gas | Oil | Steel | Raw Materials | Containers

Commodity Tracker: 7 charts to watch this week

US oil production climbs to record as net imports decline


US oil output up by 1.4 million b/d in a year

Saudi crude imports continue to sink

Domestic commercial crude stocks up 2.73 million barrels

Washington — US oil production averaged a record 12.6 million b/d last week as US net imports of crude oil fell to levels not seen since February, the US Energy Information Administration said Wednesday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

In its Weekly Petroleum Status Report for the week ending October 4, the agency said domestic crude production had increased by 1.4 million b/d from the same week a year ago.

In its Short-Term Energy Outlook Tuesday, EIA forecast monthly US oil output to average 13 million b/d by December, but that roughly 1 million b/d of annual growth is expected to slow in 2020, climbing less than 400,000 b/d over the course of next year.

US imports of crude oil averaged over 6.22 million b/d last week, down about 67,000 b/d from last week and down more than 1.17 million b/d from the same week last year, the agency said.


For the 20th week in a row, the US imported no crude from Venezuela and for the fifth week in a row imported no Kuwaiti crude, EIA data shows. US refiners imported over 3.4 million b/d from Canada and 524,000 b/d from Mexico last week, up nearly 100,000 b/d and 193,000 b/d, respectively, from last week, according to the EIA. Imports of Saudi crude fell to 350,000 b/d, down 120,000 b/d from the previous week and down 531,000 b/d from the same week a year ago.

US net imports of crude averaged over 2.82 million b/d last week, down 601,000 b/d from the previous week, as US crude exports climbed over 3.4 million b/d, up 534,000 b/d from the previous week and the highest weekly domestic average since the third week of June when 3.77 million b/d were exported. US net crude imports fell below 2.56 million b/d in the week ending February 22 before climbing to nearly 4.2 million b/d the following week, EIA data showed.


EIA data showed US commercial crude stocks rose 2.73 million barrels to 425.57 million barrels for the week ended October 4. Analysts surveyed Monday by S&P Global Platts had been looking for a 2.4 million barrel build.

US gasoline stocks fell 1.21 million barrels to 228.76 million barrels last week, also in line with analysts' expectations. US distillate stocks fell more than expected, down 3.94 million barrels to 127.32 million barrels for the reporting week. Analysts had expected a 2.5 million barrel draw.

-- Brian Scheid,

-- James Bambino,

-- Edited by Bill Montgomery,