EOA Weekly Oil Report

Inventories, Exports, Imports, and Refinery Utilization

MAIN TAKEAWAYS

• The rise in US crude and products inventories is bearish with attention shifting towards China.

• The increase in SPR withdrawals has contributed to the rise in crude inventories.

• Gasoline and distillates inventories remain low by historic standards and relative to future demand.  US refiners are expected to operate near full capacity in 2023.…