00:00Commercial crude oil inventories have fallen by 1.6 million barrels in the week ending September 13th.
00:07Current stockpiles stand at 417.5 million barrels, which is about 4% below the 5-year average.
00:15Crude oil storage at Cushing, Oklahoma saw a drop of 2 million barrels, a key location for oil delivery.
00:22At the same time, oil production decreased by 100,000 barrels per day,
00:27with some Gulf of Mexico operations affected by Hurricane Francine.
00:31Imports fell by 545,000 barrels per day, while exports surged by 1.3 million barrels per day,
00:39signaling a shift in the oil market dynamics.
00:42Gasoline inventories saw a slight increase of 69,000 barrels, with demand rising to 8.8 million barrels per day.
00:51Meanwhile, distillate fuel stocks remain below the 5-year average, despite a small rise.
00:57As we keep an eye on these shifting trends, oil markets remain sensitive to both production changes and global events.
01:04Stay tuned for more energy updates and analysis on trends.
01:08Visit thesupplychainreport.org for the latest in energy and oil market news,
01:13and check out adamftd.com for free tools related to international trade.
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