U.S. OIL INVENTORIES DOWN 9.6 MB
OGJ - US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
At 439.5 million bbl, US crude oil inventories are about 2% below the 5-year average for this time of year, the report indicated.
Separately, the American Petroleum Institute said its own estimates showed US crude inventories decreased by 2.1 million bbl for the week.
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IEA - The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 85,000 b/d month-over-month in April from 8,507 to 8,592 thousand barrels/day , gas production to increase 883 million cubic feet/day from 78,137 to 79,020 million cubic feet/day .
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