US crude oil production increased during the week ending July 17, the US Energy Information Administration (EIA) said Wednesday.
According to the EIA, US crude oil production averaged 11.1 million barrels per day (b/d) last week, 100,000 b/d more than the previous week and down by 200,000 b/d from this time last year.
The United States has become a major oil producer in the past years with the help of its shale oil production growth. Meanwhile, China continues to be one of the world’s biggest oil consumers.
According to the latest release from the Chinese National Bureau of Statistics, China’s crude oil production in June reached 16.24 million tonnes, an increase of 0.7 percent year on year.
US.crude oil imports and exports both increased during the week ending July 17, the EIA said Wednesday.
US crude oil imports averaged 5.9 million b/d last week, up by 373,000 b/d from the previous week, while crude oil exports averaged about 3 million b/d, up by about 450,000 b/d from the previous week, according to the Weekly Petroleum Status Report.
Over the past four weeks, crude oil imports averaged about 6.2 million b/d, down by 969,000 b/d year on year, while crude oil exports averaged about 2.8 million b/d, down by about 212,000 b/d year on year.
The United States became a world important oil producer in the past years with the help of its shale oil production growth. Meanwhile, China has become one of the biggest oil importers.
According to the latest release from the Chinese National Bureau of Statistics, China imported 53.18 million tonnes of crude oil in June, up 34.4 percent year on year.
