US Weekly Oil Data

US Inventories, Exports, Imports, and Refinery Utilization (Two Tables and 10 Charts)

MAIN TAKEAWAY

1. The Energy Information Administration (EIA) reported the highest weekly oil demand for the year last week (see Figure 10).

2. It also reported a decrease in crude oil inventories. The decrease was more than double the average estimates of Reuter’s poll. The correlation between changes in inventories and changes in exports is getting stronger.

3. The government added 0.787 mb of sour crude to the SPR last week.

4. The adjustment remains relatively low.

IN DETAIL