Tuesday, August 11, 2026

Weekly Oil Storage: Small Draw

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 1,071 MBBL last week to 427,567 MBBL, from 428,638 MBBL. This is 20% below the 532,343 MBBL that was in storage at this point last year, and is 3% below the five-year

Zinke: No Changes to Offshore Royalty Rates

From Reuters Interior Secretary Ryan Zinke said on Tuesday he will not lower royalty rates for offshore oil and gas lease sales “at this time” despite a recommendation from an advisory panel to do so. Zinke cited the success of President Donald Trump’s energy strategy as a reason for not adhering to the recommendation of his appointed Royalty Policy Committee,