Weekly Crude Oil Storage as of September 8, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.0 million barrels from the previous week. At 420.6 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of September 1, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.3 million barrels from the previous week. At 416.6 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year, according to the EIA crude oil and
Investing HOUSTON – U.S. crude oil stocks have fallen to their lowest level this year and likely will shrink further, analysts said, as record demand, producer supply cuts, weaker futures and rising storage costs all point to increasing drawdowns. A tight crude market is poised to extend into 2024 and add upward pressure on global oil prices, they said. In a
Weekly Crude Oil Storage as of August 25, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 10.6 million barrels from the previous week. At 422.9 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of August 18, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.1 million barrels from the previous week. At 433.5 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of August 4, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.9 million barrels from the previous week. At 445.6 million barrels, U.S. crude oil inventories are slightly below the five year average for this time of year, according to the EIA crude oil and petroleum
World Oil (Bloomberg) – The Biden administration is again delaying a replenishment of the nation’s emergency oil reserve because of market conditions, according to people familiar with the matter. The decision comes as oil prices have rallied above $80 a barrel. The Department of Energy is not taking up offers it got for a potential purchase, said the people, who
Weekly Crude Oil Storage as of July 28, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 17.0 million barrels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are at 1% below the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of July 21, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.6 million barrels from the previous week. At 456.8 million barrels, U.S. crude oil inventories are at 2% above the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of July 14, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.7 million barrels from the previous week. At 457.4 million barrels, U.S. crude oil inventories are at 1% above the five year average for this time of year, according to the EIA crude oil and
Weekly Crude Oil Storage as of July 7, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.9 million barrels from the previous week. At 458.1 million barrels, U.S. crude oil inventories are at 1% below the five year average for this time of year, according to the EIA crude oil and
World Oil (Bloomberg) – The Biden administration announced Friday it’s purchasing 6 million more bbl of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years following a historic 180 MMbbl drawdown in
