US Petroleum Inventories Drop, Crude Exports Reach Record Levels, Implied Demand Up
US petroleum inventories decreased by 2.975 million barrels to 1,599.431 million barrels last week, as reported by the EIA. US crude exports reached 5.179 million barrels per day, while crude and refined product exports hit a record 12.094 million barrels per day. Implied oil and gasoline demand in million barrels per day also noted an increase.
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John Kemp
U.S. COMMERCIAL CRUDE oil inventories depleted by -6 million barrels over the seven days ending on April 19. It was the largest drawdown of inventories for 13 weeks and went against the usual seasonal trend. Stocks normally accumulate rather than deplete at this time of year. The… https://t.co/zuowzn1BBM
Ole S Hansen US #crudeoil stocks fell 6.4m bbl last week as exports reached 5.2mb/d and refineries increased demand after maintenance. Implied demand (4-wk avg) for #gasoline and diesel both fell further with diesel hitting a 1999 seasonal low. Production held steady at 13.1mb/d for a sixth… https://t.co/zJovfplqEe
Javier Blas CHART OF THE DAY: American total oil exports (crude and refined products, on a gross basis) surged last week pass the 12 million barrels per day level | #OOTT #ShaleRevolution #Permian #Texas https://t.co/aKvqfL2f2G