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US Crude Oil Inventories Are Shrinking, Despite Calls For Glut
Market Intelligence Analysis
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Why This Matters
US crude oil inventories have seen a draw of 2.48 million barrels, indicating a decrease in stockpiles, despite previous concerns of a glut. This trend suggests a tightening of the market. The year-to-date net gain of 4.9 million barrels is a relatively moderate increase.
Market Impact
Market impact analysis based on bullish sentiment with 81% confidence.
Sentiment
Bullish
AI Confidence
81%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a draw of 2.48 million barrels in the week ending November 28. Crude oil inventories shed 1.9 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net gain of 4.9 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 300,000 barrels to 411.7…
Original article published by
OilPrice.com
on December 3, 2025.
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Analysis and insights provided by AnalystMarkets AI.