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U.S. Crude Inventories Surge Amid Record Production

11/5/2025

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Summary

Story summary

The American Petroleum Institute (API) reported U.S. crude inventories rose by 6.5 million barrels for the week ending October 31, per API.
The Department of Energy reported a 500,000-barrel rise in the Strategic Petroleum Reserve (SPR).
U.S. oil production reached a record 13.644 million barrels per day.
Brent crude traded at $64.10 and WTI at $60.19, reflecting concerns about a supply glut from OPEC+ output and tensions affecting Russian shipments.

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Story summary

The American Petroleum Institute (API) reported U.S. crude inventories rose by 6.5 million barrels for the week ending October 31, per API.
The Department of Energy reported a 500,000-barrel rise in the Strategic Petroleum Reserve (SPR).
U.S. oil production reached a record 13.644 million barrels per day.
Brent crude traded at $64.10 and WTI at $60.19, reflecting concerns about a supply glut from OPEC+ output and tensions affecting Russian shipments.