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EIA Crude Oil Product inventories decreased by 1.178 million barrels month-on-month, a decrease lower than market expectations.
In the USA, commercial Crude Oil Product inventories excluding the Strategic Reserve decreased by 1.178 million barrels to 0.416 billion barrels, the lowest level since the week of September 20, 2024, with a decline of 0.28%.
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Attention Oil & Gas Industry! Biden is about to make a big move, and this time Trump might have no solution...
① The President of the USA, Biden, is said to be issuing an executive order to permanently ban new offshore Oil & Gas development in certain coastal waters of the USA to ensure these areas have eco-friendly protection for coastal regions. ② This order is based on a 72-year-old law that grants the White House broad discretion to permanently protect USA waters from the impacts of Oil & Gas leasing.