US oil imports up, exports down last week: EIA

HOUSTON, July 3: US crude oil imports increased while exports decreased during the week ending June 28, the US Energy Information Administration (EIA) said Wednesday.

US crude oil imports averaged 7.6 million barrels per day (b/d) last week, up by 929,000 million b/d from the previous week, while crude oil exports averaged about 3 million b/d, down by about 780,000 b/d, according to EIA’s Weekly Petroleum Status Report.

However, over the past four weeks, crude oil imports averaged about 7.3 million b/d, down by 13,100 b/d year-on-year, while crude oil exports averaged about 3.3 million b/d, up by about 36,600 million b/d year-on-year.

In its latest Short-Term Energy Outlook (STEO), EIA forecast annual US crude oil production will increase by 1.4 million b/d in 2019 and by 0.9 million b/d in 2020, with 2020 production averaging 13.3 million b/d.