Market Intelligence
US Commercial Crude Stockpiles Decline by 400,000 Barrels
US commercial crude oil inventories fell by 400,000 barrels in the week ending September 4, matching the five-year seasonal average.
Commercial crude oil inventories in the United States decreased by 400,000 barrels during the week ending September 4. The drawdown was detailed in official weekly figures published by the US Energy Information Administration.
The decline brought total nationwide commercial crude storage to 424.1 million barrels. According to the government data, current stock levels are now aligned with the five-year average for this time of year.
The release of the government figures followed data issued a day earlier by the American Petroleum Institute. The industry body had estimated a weekly reduction in crude stockpiles of 300,000 barrels.
Source attribution
This report was written by the Global Freight editorial desk based on material published by OilPrice.com. It is an original summary and analysis, not a reproduction of the source text. Figures and claims are limited to those present in the source material.
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