Commercial crude oil stocks in the United States have increased. They reached a total of 424.8 million barrels. The U.S. Energy Information Administration (EIA) reported this figure. Their latest weekly petroleum status report detailed data as of December 19.
Commercial Inventory Levels
The total commercial crude oil inventory stands at 424.8 million barrels. This figure represents a significant component of the nation’s oil supply. Importantly, it excludes government-held emergency reserves. Analysts regularly monitor such stock levels; they provide insights into current supply and demand dynamics.
EIA’s Role in Reporting
The EIA compiles and disseminates vital energy information. Its weekly petroleum status report offers a comprehensive snapshot. This report covers crude oil, gasoline, and other petroleum products. The administration serves as an independent statistical agency. It aims to provide transparent data; energy professionals and policymakers utilize these reports for informed decision-making.
Excluding the Strategic Petroleum Reserve
The reported figure specifically excludes the Strategic Petroleum Reserve (SPR). The SPR functions as the U.S. government’s emergency crude oil stockpile. Its primary purpose involves mitigating major supply disruptions. Commercial inventories, conversely, refer to crude oil held by private companies for refining, storage, and distribution. This distinction highlights different facets of the nation’s oil reserves.
Data Collection and Market Context
The EIA collected this specific data point on December 19. Weekly reports offer frequent updates. These updates are crucial for tracking energy trends. Changes in crude oil stock levels often inform decisions within the energy industry. Furthermore, they contribute to broader economic analyses.
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