Lubricant Stocks at Refineries for United States
Millions of Barrels (Of 42 Gallons), Monthly, Not Seasonally Adjusted
M0556CUSM387NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.55
Year-over-Year Change
-5.42%
Date Range
12/1/1947 - 8/1/1955
Summary
This economic trend measures the monthly volume of crude oil in millions of 42-gallon barrels produced in the United States. It provides a key indicator of domestic energy production and supply.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Millions of Barrels (Of 42 Gallons), Monthly, Not Seasonally Adjusted series tracks the total volume of crude oil extracted and processed in the United States on a monthly basis. This metric is widely used by energy analysts, policymakers, and industry stakeholders to assess the health and trends of the domestic energy sector.
Methodology
The data is collected and reported by the U.S. Energy Information Administration through surveys of oil production facilities.
Historical Context
This economic indicator is closely monitored for its implications on energy prices, trade balances, and broader economic conditions.
Key Facts
- U.S. crude oil production reached a record high of 12.3 million barrels per day in 2019.
- Domestic oil production has increased by over 60% since 2008 due to advancements in extraction technologies.
- The U.S. became a net exporter of crude oil and petroleum products in 2019 for the first time since 1949.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly volume of crude oil produced in the United States, expressed in millions of 42-gallon barrels.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a key indicator of domestic energy production and supply, with implications for energy prices, trade balances, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Energy Information Administration through surveys of oil production facilities.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by policymakers, energy analysts, and industry stakeholders to assess the health and trends of the domestic energy sector.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, with a typical delay of 1-2 months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Millions of Barrels (Of 42 Gallons), Monthly, Not Seasonally Adjusted (M0556CUSM387NNBR), retrieved from FRED.