The EIA released its weekly Petroleum Status Report on 1/4, outlining how national oil and refined product stocks have changed in the last week.
Crude oil stocks fell by 7,419 MBBL last week to 424,463 MBBL, from 431,882 MBBL. This is 11% below the 479,012 MBBL that was in storage at this point last year, and is 9% above the five-year average. This week’s storage draw was well above expectations, as the average analyst prediction called for a draw of 4,456 MBBL.
Refined products inventories build
Oil Storage Report 1/4/2018
Oil Storage Report 1/4/2018
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group