The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 1.1 million barrels (MMbbl) to a total of 481.2 MMbbl. At 481.2 MMbbl, inventories are 67.8 MMbbl above last year (16.4%) and are about 8% above the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 1.1 million barrels to a total of 36.8 million barrels. The Strategic Petroleum Reserve (SPR) was unchanged from the prior week and stands at 371.6 million barrels and stands 35.0% below the year ago level.
Refined Product Inventories Plummet, Demand Jumps
Refined Product Inventories Plummet, Demand…
Refined Product Inventories Plummet, Demand Jumps
The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 1.1 million barrels (MMbbl) to a total of 481.2 MMbbl. At 481.2 MMbbl, inventories are 67.8 MMbbl above last year (16.4%) and are about 8% above the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 1.1 million barrels to a total of 36.8 million barrels. The Strategic Petroleum Reserve (SPR) was unchanged from the prior week and stands at 371.6 million barrels and stands 35.0% below the year ago level.