US crude production remains below 11 mb/d

  • Oil

ICE Brent crude oil gained a dollar, to 67.7 $/b at the prompt, supported by a relatively constructive EIA weekly report but also strengthening cracks globally. US demand remained strong, despite a pullback in gasoline consumption, while US refiners processed 15 mb/d of crude last week. US crude production remained pegged to 11 mb/d, which should continue to incentivize greater crude imports. 

opec-crude-supply-weekly-growth
Share this news :

You might also read :

ES-oil
March 21, 2022

The price recovery continues

Brent 1st-nearby is approaching $112/b this morning. Concerns about Russian oil flows have been compounded by a new episode of tension in the Middle East, with…
ES-oil
March 23, 2022

Russian flows still in the spotlight

Ahead of meetings of Nato countries and a new EU summit, the US continues to press the EU for further sanctions against Russia, particularly in the…
ES-economy
July 12, 2021

Reflation goes abroad

As the recent collapse in US bond yields, and the flattening of the term structure continues, the reflation thesis might have peaked, with slower growth in…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]