Commercial crude inventories fell by 3.186 million barrels during the same period, reversing forecasts for a 1.915 million barrel build. While total crude stocks decreased to 424.1 million barrels, gasoline inventories rose by 0.382 million barrels, though regional data showed a 2.8 million barrel surge on the East Coast. Analysts also noted that domestic distillate demand slumped by nearly 300,000 barrels per day.
Wednesday, October 21, 2026
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US Crude Production Hits New Record High for Second Straight Week
Commodities14 days ago
Domestic oil output rose to 13.979 million barrels per day for the week ending Oct 2, the Energy Information Administration reported. This expansion marks a new record high for the second consecutive week. The agency also found that the Strategic Petroleum Reserve was drained by 784,000 barrels, bringing the total to 283 million barrels, which is just 13 million barrels above the lowest level on record.
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