EIA report

KEY POINTS • U.S. crude inventories increased by 5.5 million barrels, driven by higher imports.• Gasoline stocks rose unexpectedly by 900,000 barrels as refineries ramped up production.• Distillate stockpiles fell …

The value of US-Mexico energy trade dropped by nearly 15% in 2023 despite increased trade volumes, primarily due to lower fuel prices, according to the EIA.

Oil prices rose on Thursday due to a significant drop in U.S. crude and gasoline inventories, indicating robust demand and a tighter supply environment.

The US oil industry is facing a slowdown in production growth in 2024, according to a report by the US Energy Information Administration (EIA). The EIA predicts that US crude …