US Crude Oil Inventories Continue to Rise as Production Hits New High ...Middle East

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US Crude Oil Inventories Continue to Rise as Production Hits New High
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The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large build of 4.4 million barrels in the week ending November 14. Crude oil inventories gained 1.3 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net gain of 9.3 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 500,000 barrels…

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