U.S. Crude Oil Stocks, Solar Power Installations: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
U.S. Sees Sharp Decline in Crude Oil Inventories - U.S. crude oil inventories fell sharply last week amid lower imports and a jump in exports, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude oil stockpiles fell by 6 million barrels to 420.7 million barrels last week, the EIA said. Net U.S. crude imports fell by 1.22 million barrels per day (BBL/d) last week, the EIA said, while exports rose by 795,000 BBL/d to 4.37 million BBL/d. U.S. gasoline stocks fell by 2.7 million barrels in the week to 223.6 million barrels, while distillate stockpiles rose by 2.3 million barrels. (Reuters)

Saudi Arabia's June Crude Oil Exports Fall to Lowest Since March - Saudi Arabia's crude oil exports slipped in June to their lowest level in three months, according to data from the Joint Organizations Data Initiative released on Wednesday. Crude oil exports from the world's largest oil exporter fell to 6.141 million BBL/d, from 6.191 million BBL/d in May. Saudi Arabia's crude oil output for June was 9.752 million BBL/d, up from 9.184 million BBL/d in May. (Reuters)

POWER
EIA: Solar May Account for Half of New U.S. Electricity This Year - Developers are on track to add 33 gigawatts of solar power in the U.S. this year, accounting for about half of the total new electricity generating capacity planned for the country in 2025, the EIA said on Wednesday. If the plans are realized, large-scale solar power additions in the U.S. would reach a record high, said the EIA, which based its analysis on a survey of developers. New battery storage, which stores electricity from solar farms and other energy sources, may also hit a yearly record in 2025. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).