Weekly Crude Oil Storage as of March 15, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Oil Price The Biden Administration aims to have crude in the Strategic Petroleum Reserve (SPR) back up to the levels before the massive sales of 180 million barrels in the past two years, U.S. Energy Secretary Jennifer Granholm said at the CERAWeek energy conference in Houston. The U.S. saw the stockpiles of crude oil in the SPR fall from 638 million barrels
World Oil (Bloomberg) – The boss of Exxon Mobil Corp. said Monday that it has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its proposed $52 billion merger with the other company. “If we were interested in doing something with Hess, we wouldn’t have waited for Chevron” to sign its deal, Exxon Chief Executive
Nasdaq WASHINGTON – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department said on Thursday. The oil, if purchased, is expected to be delivered in August and September, the department said The department
Oil Price The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher. The SPR consists primarily of several large underground salt caverns for storage located along the Gulf Coast in Texas and Louisiana. These sites were chosen based on their geologic stability and
Weekly Crude Oil Storage as of March 8, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.5 million barrels from the previous week. At 447.0 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of March 1, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 448.5 million barrels, U.S. crude oil inventories are 1% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of February 23, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.2 million barrels from the previous week. At 447.2 million barrels, U.S. crude oil inventories are 1% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of February 9, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 12.0 million barrels from the previous week. At 439.5 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of February 2, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.5 million barrels from the previous week. At 427.4 million barrels, U.S. crude oil inventories are 4% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Oil Price ExxonMobil (NYSE: XOM) posted higher-than-expected earnings for the fourth quarter, while its full-year profit was the second-highest in a decade, as the U.S. supermajor boosted its Guyana and Permian production and achieved record annual refinery throughput. Exxon reported on Friday fourth-quarter 2023 earnings of $7.6 billion, or $1.91 per share assuming dilution. As previously flagged, the U.S. supermajor’s Q4 earnings were
Weekly Crude Oil Storage as of January 26, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 421.9 million barrels, U.S. crude oil inventories are 5% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
