US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (12 Charts).
March 12, 2025
EOA’s Main Takeaway
Although changes in inventories followed historical trends, the bad weather in Texas has influenced exports and imports.
Gasoline inventories are currently at a comfortable level, but refinery maintenance might lead to low levels at the start of summer.
We will monitor jet fuel demand, expecting it might decline significantly due to slow economic growth and reduced government travel.
There is no bullish case for oil at this stage. We maintain our "sideways" view unless recession fears are confirmed.