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 2,747 MBBL last week to 462,216 MBBL, from 464,963 MBBL. This is 2% below the 473,958 MBBL that was in storage at this point last year, and is 21% above the five-year average. This week’s storage draw aligned with expectations, as the average analyst prediction called for a draw of 2,042 MBBL.
Source: EnerCom Analytics
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