Crude Oil Storage

Source: CNBC

U.S. energy envoy says Biden stands ready to release even more oil reserves to cool markets

CNBC


President Joe Biden’s administration stands ready to release even more barrels of oil from its strategic reserves should the need arise again, according to the U.S. State Department’s senior advisor for global energy security.

“Absolutely. This is a tool

Source: Reuters

China so far non-committal to Washington’s oil release, OPEC+ unmoved

Reuters


BEIJING/LONDON/MOSCOW/WASHINGTON -China, the world’s largest crude importer, was non-committal about its intentions to release oil from its reserves as requested by the United States, while OPEC producers were not considering changing tactics in light of the U.S. action, according …

Source: Reuters

Analysis: Biden’s oil reserves bet mixes China outreach with appeal to U.S. voters

Reuters


WASHINGTON, Nov 23 – President Joe Biden’s historic move to release oil from strategic reserves in coordination with big nations including China represents a unique bet that finding common ground with the United States’ biggest economic rival can help …

U.S. crude oil inventories increase by 1.0 million barrels

U.S. crude oil inventories increase by 1.0 million barrels

Weekly Crude Oil Storage as of November 19, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.0 million barrels from the previous week.  At 434.0 million barrels, U.S. crude oil …

Source: Fox Business

Biden oil reserve release an ‘ineffectual band aid’ that won’t replace domestic production, critics say

Fox Business


A number of critics, including the U.S. Chamber of Commerce and former President Trump, opposed President Biden‘s decision to tap into the Department of Energy‘s Strategic Petroleum Reserve, slamming the Biden administration for “ineffectual band aids” …

Source: World Oil

Biden orders release of oil reserves, in a challenge to OPEC

World Oil


WASHINGTON (Bloomberg) –The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India, South Korea and the UK — an unprecedented, coordinated attempt by the world’s largest oil consumers to …

Source: Fox Business

Tapping US SPR will make oil supply situation worse

Fox Business


There is some speculation the White House may soon announce a plan to curb sky-high energy prices, which could include tapping the U.S. Strategic Petroleum Reserve [SPR]. Reports circulated again Thanksgiving week that President Biden has asked …

Source: Reuters

China begins releasing oil from its strategic reserves

World Oil


(Bloomberg) – China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a …

U.S. crude oil inventories decrease by 2.1 million barrels

U.S. crude oil inventories decrease by 2.1 million barrels

Weekly Crude Oil Storage as of November 12, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.1 million barrels from the previous week.  At 433.0 million barrels, U.S. crude oil …

Source: World Oil

Saudis, UAE suggest OPEC will resist Biden’s pleas for more oil

World Oil


ABU DHABI (Bloomberg) – Saudi Arabia and the United Arab Emirates signaled OPEC+ will continue raising oil output cautiously and won’t bow to U.S. pressure to pump faster.

President Joe Biden, concerned that gasoline prices at a seven-year …

U.S. crude oil inventories increase by 1.0 million barrels

U.S. crude oil inventories increase by 1.0 million barrels

Weekly Crude Oil Storage as of November 5, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.0 million barrels from the previous week. At 435.1 million barrels, U.S. crude oil …

Source: Reuters

U.S. projects oversupplied global oil markets by early 2022

World Oil


(Bloomberg) –The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves.

Supply increases next year from …

Source: Reuters

Oil down after API data shows U.S. inventory build-up

Reuters


LONDON – Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply.…

Source: Reuters

Oil prices slide as U.S. instructs crude producers to increase output

World Oil


Oil fell for a second day as one of the top energy diplomats in the U.S. urged producers to hike output.

West Texas Intermediate declined 1.3%, falling for a second session. The global economy is facing an energy …

Source: Reuters

Oil prices slump on rising U.S. crude inventories

World Oil


SINGAPORE (Bloomberg) –Oil’s bumper rally cooled after an increase in U.S. crude inventories and as industrial commodities retreated.

Global benchmark Brent fell 1.4%, after failing to break through its 2018 high so far this week. The American Petroleum …

U.S. crude oil inventories increase by 4.3 million barrels

U.S. crude oil inventories increase by 4.3 million barrels

Weekly Crude Oil Storage as of October 22, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week. At 430.8 million barrels, U.S. crude oil …

Source: Reuters

Falling crude inventories pin WTI oil price near $83

World Oil


(Bloomberg) –Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub.

Front-month futures in New York traded below $83, paring an earlier …

Source: World Oil

Oil inventory at Cushing crude hub nears critically low levels

World Oil


The storage tanks in Cushing, Oklahoma, require a minimum level of oil …

Source: Reuters

Oil rises modestly as U.S. crude stockpiles dwindle

Reuters


NEW YORK – Oil prices edged higher on Wednesday, rebounding from early losses after U.S. crude stockpiles unexpectedly fell and inventories at the nation’s largest storage site hit their lowest level in three years.

Brent crude futures rose 26 …

U.S. crude oil inventories decrease by 0.4 million barrels

U.S. crude oil inventories decrease by 0.4 million barrels

Weekly Crude Oil Storage as of October 15, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 426.5 million barrels, U.S. crude oil …

U.S. crude oil inventories increase by 6.1 million barrels

U.S. crude oil inventories increase by 6.1 million barrels

Weekly Crude Oil Storage as of October 8, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.1 million barrels from the previous week. At 427.0 million barrels, U.S. crude oil …

U.S. crude oil inventories increase by 2.3 million barrels

U.S. crude oil inventories increase by 2.3 million barrels

Weekly Crude Oil Storage as of October 1, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.3 million barrels from the previous week. At 420.9 million barrels, U.S. crude oil …

U.S. crude oil inventories increase by 4.6 million barrels

U.S. crude oil inventories increase by 4.6 million barrels

Weekly Crude Oil Storage as of September 24, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.6 million barrels from the previous week. At 418.5million barrels, U.S. crude oil inventories …

U.S. crude oil inventories decrease by 3.5 million barrels

U.S. crude oil inventories decrease by 3.5 million barrels

Weekly Crude Oil Storage as of September 17, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.5 million barrels from the previous week. At 414.0 million barrels, U.S. crude oil …

U.S. crude oil inventories decrease by 6.4 million barrels

U.S. crude oil inventories decrease by 6.4 million barrels

Weekly Crude Oil Storage as of September 10, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.4 million barrels from the previous week. At 417.4 million barrels, U.S. crude oil …

Source: Reuters

Chevron, Exxon, Valero, others win bids for planned U.S. SPR sale

Reuters


WASHINGTON – The U.S. government has agreed to sell crude oil from the nation’s emergency reserve to eight companies including Exxon, Chevron and Valero, under a scheduled auction to raise money for the U.S. budget, the Department of Energy …

U.S. crude oil inventories decrease by 1.5 million barrels

U.S. crude oil inventories decrease by 1.5 million barrels

Weekly Crude Oil Storage as of September 3, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.5 million barrels from the previous week. At 423.9 million barrels, U.S. crude oil …

U.S. crude oil inventories decrease by 7.2 million barrels

U.S. crude oil inventories decrease by 7.2 million barrels

Weekly Crude Oil Storage as of August 27, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2 million barrels from the previous week. At 425.4 million barrels, U.S. crude oil …

U.S. crude oil inventories decrease by 3 million barrels

U.S. crude oil inventories decrease by 3 million barrels

Weekly Crude Oil Storage as of August 20, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.0 million barrels from the previous week. At 432.6 million barrels, U.S. crude oil …

Source: World Oil

U.S. to auction 20MM barrels of oil from Strategic Petroleum Reserve

World Oil


The Energy Department plans to auction off