Export surge offsets record production, blunting US crude build

摘要

New York—A surge in US crude exports blunted a seasonal stock build even as domestic production ticked to a fresh all-time high, US Energy Information Administration data showed Wednesday. US commercial crude stocks moved 780,000 barrels higher to 444.12 million barrels during the week ended February 28, according to EIA data. The build, while seasonal, was considerably smaller than normal for this time of year, and put inventories 3.6% behind the five-year average. Stocks typically show builds of more than 7 million barrels during the last week of February, EIA data showed.