Record Oil Production Sets New Benchmark The U.S. Energy Information Administration (EIA) reported record-breaking oil output for July, reaching 13.6 million barrels per day.That figure tops the previous month’s total of 13.5 million barrels per day and marks a major milestone for the country’s energy sector. The EIA’s latest Short-Term Energy Outlook also predicted sustained …
Tag: EIA Report
Buildup of US crude oil supplies but not at Cushing Hub
National Crude Inventories Climb A buildup in U.S. crude oil inventories is raising eyebrows among investors and market analysts. According to the latest “This Week in Petroleum” report from the U.S. Energy Information Administration (EIA), the nation’s oil stocks increased by nearly 3.8 million barrels in the past week. The EIA reported that U.S. crude …