The nation’s crude oil inventories recently experienced a notable week-over-week reduction. These stocks decreased by 3.4 million barrels, according to official figures.
Key Inventory Figures
This specific decline represents a significant shift in the country’s petroleum reserves. The 3.4 million barrel drop occurred over the course of one week.
Following this reduction, the total crude oil stocks reached 424.2 million barrels. This figure accurately reflects the inventory level as of November 14. It is important to note that this total excludes the Strategic Petroleum Reserve (SPR).
Source of Information
The Energy Information Administration (EIA) published these updated statistics. The agency included the data in its latest weekly petroleum status report.
The EIA’s report serves as a primary source for US energy information. It offers data on the nation’s petroleum status.
In summary, the United States saw a measurable decrease in its crude oil holdings. The reported figures highlight the recent adjustment in national oil stocks.
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