U.S. Crude Stockpiles on Record Run as OPEC Cuts: Chart

The U.S. might be spoiling OPEC’s plans. Nationwide crude stockpiles surged for a seventh straight week and production climbed to the highest level since April, adding some difficulty to OPEC’s effort to eliminate a global glut. Data from the Energy Information Administration showed crude stockpiles rose by 564,000 barrels last week to 518.7 million, extending a record for the highest level in weekly inventories begun in August 1982.

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