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SunSirs: US Crude Oil Inventories Increased Last Week, While Finished Oil Onventories may Decrease
February 21 2024 10:55:31SunSirs(Selena)

According to foreign news on February 20th, an extended survey released on Tuesday showed that US crude oil inventories may have increased last week, while gasoline and distillate storage inventories declined.

On average, the four analytical firms surveyed estimate that as of the week ending February 16th, US crude oil inventories are expected to increase by approximately 4.3 million barrels.

The US Energy Information Agency (EIA) will release its weekly crude oil inventory report at 00:00 Beijing time on Friday. The report has been delayed by one day due to a public holiday in the United States on Monday this week.

Previously, the EIA report stated that as of the week ending February 9th, US crude oil inventories increased by 12 million barrels to 439.5 million barrels, with analysts expecting an increase of 2.6 million barrels.

Analysts estimate that gasoline inventories in the United States decreased by about 3 million barrels last week, while distillate storage, including diesel and heating oil, decreased by about 1.8 million barrels.

The survey shows that the utilization rate of refinery capacity has increased by 1.1 percentage points, compared to 80.6% in the previous week.


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