{"id":6106,"date":"2019-10-02T19:28:51","date_gmt":"2019-10-02T14:28:51","guid":{"rendered":"http:\/\/umang.pk\/2019\/10\/oil-prices-continue-plunge-as-crude-stocks-rise\/"},"modified":"2019-10-02T19:28:51","modified_gmt":"2019-10-02T14:28:51","slug":"oil-prices-continue-plunge-as-crude-stocks-rise","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/10\/02\/oil-prices-continue-plunge-as-crude-stocks-rise\/","title":{"rendered":"Oil prices continue plunge as crude stocks rise"},"content":{"rendered":"
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    The March 13, 2012 photo shows a 250,000 barrel capacity oil storage tank at SemCrude Tank Farm, north of Cushing, Oakland. In the last seven weeks, the US has produced and imported an average of more than 1 million barrels. Oil than to consume every day. The Energy Department reported that Wednesday, February 25, 2015, the surplus of crude oil would enter storage tanks, especially at Cushing's main trading hub, bringing US supply to its peak in 80 years, the AP reported. (AP Photo \/ Tulsa World Michael Wyke) KOTV OUT; KJRH OUT; KTUL OUT; Goki out; KQCW OUT; KDOR OUT; Tulsa; Tulsa Online Out<\/p>\n

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    The March 13, 2012 photo shows a 250,000 barrel capacity oil storage tank at SemCrude Tank Farm, north of Cushing, Oakland. In the last seven weeks, the US<\/p>\n

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    \n Photo: Michael Wyke, MBI \/ AP
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      \n Photo: Michael Wyke, MBI \/ AP
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      The March 13, 2012 photo shows a 250,000 barrel capacity oil storage tank at SemCrude Tank Farm, north of Cushing, Oakland. In the last seven weeks, the US has produced and imported an average of more than 1 million barrels. Oil than to consume every day. The Energy Department reported that on Wednesday February 25, 2015, the extra oil would enter storage tanks, especially from Cushing's main trading hub, bringing US supplies to its peak in 80 years, the AP reported. (AP Photo \/ Tulsa World Michael Wyke) KOTV OUT; KJRH OUT; KTUL OUT; Goki out; KQCW OUT; KDOR OUT; Tulsa; Tulsa Online Out<\/p>\n

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      The March 13, 2012 photo shows a 250,000 barrel capacity oil storage tank at SemCrude Tank Farm, north of Cushing, Oakland. In the last seven weeks, the US<\/p>\n

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      \n Photo: Michael Wyke, MBI \/ AP
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      Oil prices plummet due to rising oil prices<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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      US crude oil stocks were higher than expected last week, adding additional momentum to the drop in oil prices.<\/p>\n

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      The US oil standard plunged to about $ 52 a barrel on Wednesday, far below the price before the September attacks on Saudi oil supplies. After the initial 15{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} crude oil price surge, oil prices continued to plummet due to weak economic news and a quick recovery from Saudi attacks.<\/p>\n

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      Related: US oil companies attack on Saudi Arabia field will not change the approach<\/p>\n

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      The US Energy Department said many analysts are expecting a decline, but commercial crude oil inventories rose 3.1 million barrels last week. However, while total oil inventories decreased by about 900,000 barrels, the decline in gasoline and distillate fuel oil supplies reduced about 900,000 barrels.<\/p>\n

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      According to federal estimates, US crude oil production is close to 12.4 million barrels per day. In recent weeks, the plan bounces between 12.4 million barrels and 12.5 million barrels every day. And US crude oil exports amount to 3 million barrels a day.<\/p>\n


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