Crude Oil Storage Report - May 27

[dan_s]

CRUDE OIL INVENTORY/’000 bbls (Week Ended 5/22/15)

Current: 479,363
Actual Build/(Withdrawal): (2,802)
Economist Average Estimate: (1,200)
Previous: 482,165

We should continue to see large weekly draws from storage all summer. Demand for refined products is going up and my SWAG is that EIA and IEA demand forecasts will continue to be adjusted higher.