U.S. crude oil production decreases from last week: EIA

U.S. crude oil production decreased during the week ending Aug. 28, the U.S. Energy Information Administration (EIA) said Wednesday.

According to the EIA, U.S. crude oil production averaged 9.7 million barrels per day (b/d) last week, 1.1 million barrels less than the previous week and down by 2.7 million b/d this time last year.

The United States has been a major oil producer in the past years with the help of its shale oil production growth. Meanwhile, China continues to be one of the world's biggest oil consumers.

According to the latest release from the Chinese National Bureau of Statistics, China's crude oil output edged up 0.6 percent year on year to 16.46 million tonnes in July, slightly retreating from an increase of 0.7 percent registered in June.