US crude oil inventories rise 0.9% for week ending Oct. 3

US commercial crude oil inventories rose by 0.9% in the week ending Oct. 3, according to data from the Energy Information Administration (EIA) released late Wednesday.

Stocks increased by about 3.7 million barrels to 420.3 million, above market expectations for a 2.9 million-barrel rise.

Strategic petroleum reserves, excluded from commercial inventories, grew by 300,000 barrels to 407 million.

While, gasoline inventories declined, falling 1.6 million barrels to 219.1 million.

– Crude production rises

EIA data showed that US crude oil production edged up by 124,000 barrels per day (bpd) to around 13.63 million bpd during the same week.

Imports rose by 570,000 bpd to about 6.4 million bpd, while exports declined by 161,000 bpd to roughly 3.59 million bpd.

In its Short-Term Energy Outlook (STEO) released on Oct. 7, the EIA projected that US crude oil output would average 13.53 million bpd in 2025.

• Energy Information Administration (EIA)
• Short-Term Energy Outlook (STEO)
• US commercial crude oil