US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (12 Charts).
January 15, 2025
EOA’s Main Takeaway
All major variables followed historical trends: crude, gasoline, distillate, Cushing, demand, refinery utilization, import, and exports. What stands out is the sharp increase in gasoline inventories in the last nine weeks. It was the largest increase since early 2020.
US gasoline exports have been increasing in recent months and exports in December were at the highest level in several years.
It is not clear whether the sharp rise in gasoline inventories and exports is the result of slow economic growth or if shale production is getting gassier, producing more light crude and naphtha that produce a large amount of gasoline. It could be both.