Monday, January 27, 2025
Oil rebounds though outlook remains clouded by oversupply- oil and gas 360

Crude inventories plunge as U.S. emerges as net petroleum exporter

Houston Chronicle The nation’s stockpiles of commercial crude oil plunged by nearly 5 million barrels last week as the United States continues to emerge as a net petroleum exporter at the end of 2019. The U.S. is churning out record-high crude oil production at an estimated 12.9 million barrels a day and exporting nearly a quarter of that crude daily.