SunSirs: EIA: US Crude Oil Inventories Fell more than Expected Last Week
January 25 2024 13:47:42 SunSirs (Selena)
According to foreign sources on January 24th, a report released by the US Energy Information Agency (EIA) on Wednesday showed that commercial crude and distillate inventories in the United States decreased last week, while gasoline inventories increased.
As of the week ending January 19th, US crude oil inventories decreased by 9.2 million barrels to 420.68 million barrels, with analysts expecting a decline of approximately 2.2 million barrels.
The EIA stated that crude oil inventories at the Cushing warehouse in Oklahoma, the delivery location for NYMEX crude oil futures, decreased by 2.01 million barrels.
As of the week ending January 19th, the crude oil processing volume of the refinery decreased by 1.4 million barrels per day. The utilization rate of refinery capacity has decreased by 7.1 percentage points.
According to EIA data, as of the week ending January 19th, US gasoline inventories increased by 4.9 million barrels to 252.98 million barrels, with analysts expecting an increase of approximately 2.3 million barrels.
During the week, distillate oil inventories, including diesel and heating oil, decreased by 1.4 million barrels to 133.34 million barrels, with analysts expecting an increase of approximately 300,000 barrels.
The EIA stated that the net import volume of US crude oil decreased by 1.24 million barrels per day that week.
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