Oil Storage Report - Nov 15
Posted: Wed Nov 15, 2017 12:19 pm
Per EIA (M = million):
Crude +1.9M barrels vs. -2.2M consensus, +2.2M last week.
Gasoline +0.9M barrels vs. -0.9M consensus, -3.3M last week.
Distillates -0.8M barrels vs. -1.3M consensus, -3.4M last week.
So, total liquids inventories increased about 2.0 million barrels for the week ending November 10.
Compare to total global demand for hydrocarbon based refined liquids of approximately 98M barrels per day or 686M barrels per week.
Keep in mind that this is the time of year when liquids inventories do build. Demand for transportation fuels declines a bit and demand for heating oil is just starting.
Crude +1.9M barrels vs. -2.2M consensus, +2.2M last week.
Gasoline +0.9M barrels vs. -0.9M consensus, -3.3M last week.
Distillates -0.8M barrels vs. -1.3M consensus, -3.4M last week.
So, total liquids inventories increased about 2.0 million barrels for the week ending November 10.
Compare to total global demand for hydrocarbon based refined liquids of approximately 98M barrels per day or 686M barrels per week.
Keep in mind that this is the time of year when liquids inventories do build. Demand for transportation fuels declines a bit and demand for heating oil is just starting.