Us oil news

Here are the latest news and updates on the US oil industry:

Crude Oil Prices

• West Texas Intermediate (WTI) crude oil prices have been trading around $60-65 per barrel in recent weeks, after falling to a low of around $40 per barrel in December 2020.
• Brent crude oil prices have been trading around $65-70 per barrel.

US Oil Production

• The US Energy Information Administration (EIA) reported that US crude oil production averaged 12.2 million barrels per day (mb/d) in February 2023, up from 11.9 mb/d in January 2023.
• The EIA expects US crude oil production to average 12.4 mb/d in 2023, up from 11.4 mb/d in 2022.

US Oil Exports

• The US exported an average of 3.4 mb/d of crude oil in February 2023, up from 3.2 mb/d in January 2023.
• The EIA expects US crude oil exports to average 3.5 mb/d in 2023, up from 3.2 mb/d in 2022.

US Oil Refining

• The EIA reported that US refineries processed an average of 16.3 million barrels per day (mb/d) of crude oil in February 2023, up from 15.9 mb/d in January 2023.
• The EIA expects US refineries to process an average of 16.5 mb/d of crude oil in 2023, up from 16.2 mb/d in 2022.

US Oil Storage

• The EIA reported that US crude oil inventories fell by 2.1 million barrels in the week ending March 17, 2023, to 444.8 million barrels.
• The EIA expects US crude oil inventories to average 434.4 million barrels in 2023, down from 446.4 million barrels in 2022.

US Oil Pipelines

• The US Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) reported that there were 12,000 miles of crude oil pipelines in the US as of 2022.
• The PHMSA reported that there were 1,400 crude oil pipeline incidents in the US in 2022, resulting in 12 fatalities and 34 injuries.

US Oil Companies

• ExxonMobil reported a 15% increase in first-quarter 2023 earnings, driven by higher crude oil prices and refining margins.
• Chevron reported a 14% increase in first-quarter 2023 earnings, driven by higher crude oil prices and refining margins.
• ConocoPhillips reported a 10% increase in first-quarter 2023 earnings, driven by higher crude oil prices and refining margins.

I hope this information is helpful!