This is the lowest rate since February 2020. Analysts at DailyFX expect it to drop just 4 million barrels.
In addition, strategic crude oil reserves fell 1.2 million barrels, or 0.2%, to 621.3mn, the ministry said.
At the same time, oil reserves at Cushing’s largest terminal fell to 39.6 million a week. From 40.3 million barrels a week ago.
U.S. petrol inventory fell 6.1m barrels (2.5%) to 235.5 million barrels a week. Analysts predict a drop of 2.2 million barrels.
Distilled goods increased by 1.6 million barrels or 1.2% to 138.7 million barrels, an increase of 0.2 million barrels.
U.S. crude oil production increased by 200,000 in the week ended July 2. According to the weekly estimate of the Energy Information Administration, 11.3 million barrels per day and 11.3 million barrels per day.
On average, over the past four weeks, U.S. oil production has reached 11.175 million barrels per day.
The country’s crude oil production averaged 11.31 million barrels a day last year.
The Department reports accurate production data in a monthly report two months ago. According to preliminary data, oil production in May was 11.23 million barrels per day, compared to 11.21 million in June.
On July 7, the U.S. The Department of Energy has raised its projected average oil production to 11.1 million barrels per day in 2021 and 11.85 million barrels per day in 2022.
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