The commercial crude oil stocks in the US increased by approximately 1.7 million barrels compared to the previous week. The US Energy Information Administration (EIA) announced that the commercial crude oil stocks in the country rose to 437 million barrels last week, with an increase of about 1.7 million barrels. Market expectations were pointing towards an increase in stocks at this level. The strategic crude oil stocks, not included in the commercial crude oil stocks, also increased by 300 thousand barrels to reach 395.9 million barrels. During this period, the gasoline stocks in the US were recorded at 240.6 million barrels, showing a decrease of 500 thousand barrels.

DECREASE IN OIL PRODUCTION
During the week of March 8-14, the daily crude oil production in the US decreased by 2 thousand barrels to fall to 13.573 million barrels. The country’s crude oil imports also decreased by 85 thousand barrels per day compared to the previous week, reaching 5.385 million barrels, while crude oil exports increased by 1.354 million barrels per day to reach 4.644 million barrels. According to the “Short-Term Energy Outlook Report for March 2025” by the EIA, it is expected that the average daily crude oil production in the US will be around 13.61 million barrels this year.