SunSirs: EIA: US Crude Oil Inventories Decreased by 2.5 Million Barrels beyond Expectations Last Week
January 19 2024 13:53:30 SunSirs (Selena)
According to a report released by the US Energy Information Administration (EIA) on Thursday, commercial crude oil inventories in the United States decreased last week, while gasoline and distillate inventories increased.
As of the week ending January 12th, US crude oil inventories decreased by 2.5 million barrels to 429.91 million barrels, with analysts expecting a decrease of approximately 300,000 barrels.
The EIA stated that the crude oil inventory at the Cushing warehouse in Oklahoma, the delivery location of NYMEX crude oil futures, decreased by 2.1 million barrels.
As of the week ending January 12th, the crude oil processing volume of the refinery increased by 135,000 barrels per day. The utilization rate of refinery capacity has decreased by 0.3 percentage points.
According to EIA data, as of the week ending January 12th, US gasoline inventories increased by 3.1 million barrels to 248.07 million barrels, with analysts expecting an increase of approximately 2.2 million barrels.
During the week, distillate oil inventories, including diesel and heating oil, increased by 2.4 million barrels to 134.75 million barrels, with analysts expecting an increase of approximately 900,000 barrels.
The EIA stated that the net import volume of US crude oil decreased by 528000 barrels per day that week.
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