SunSirs: US Crude Oil Inventories Expected to Increase Lst Week
April 09 2024 10:28:31 SunSirs (Selena)
According to foreign news on April 9th, a preliminary survey released on Monday showed that US crude oil inventories were expected to increase last week, while finished oil inventory is expected to decline.
On average, the four analytical firms surveyed estimate that as of the week ending April 5th, US crude oil inventories are expected to increase by approximately 2.4 million barrels.
The American Petroleum Institute (API) will release the industry version of its weekly inventory report on Wednesday at 4:30 Beijing time, while the Energy Information Administration (EIA) will release the official version of its weekly inventory report on Wednesday at 22:30 Beijing time. According to a report released by the EIA last week, as of the week ending March 29th, US crude oil inventories increased for the second consecutive week, increasing by 3.2 million barrels to 451.4 million barrels, with analysts expecting a decrease of 1.5 million barrels.
Analysts estimate that US gasoline inventories were expected to decrease by approximately 1.8 million barrels last week, while distillate inventories, including diesel and heating oil, are expected to decrease by 1.2 million barrels.
The survey shows that the utilization rate of refinery capacity has increased by 0.5%, compared to 88.6% in the previous week.
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