SunSirs: EIA: US Crude Oil Inventories Fell more than Expected Last Week

https://www.chemnet.com   Jun 21,2024 SunSirs

According to foreign sources on June 20th, a report released by the US Energy Information Agency (EIA) on Thursday showed that US crude oil, gasoline, and distillate inventories all decreased last week.

According to EIA data, as of the week ending June 14th, US crude oil inventories decreased by 2.5 million barrels to 457.11 million barrels, while analysts had previously expected a decrease of 2.2 million barrels.

The crude oil inventory in Cushing, Oklahoma increased by 307,000 barrels.

The EIA stated that the crude oil processing volume of the refinery decreased by 282,000 barrels per day that week.

The utilization rate of refinery capacity has decreased by 1.5 percentage points.

As of the week ending June 14th, US gasoline inventories decreased by 2.3 million barrels to 2,312.3 million barrels, with analysts expecting an increase of 600,000 barrels.

During the week, distillate oil inventories, including heating oil and diesel, decreased by 1.7 million barrels to 121.64 million barrels, while the market had previously expected an increase of 300,000 barrels.

The EIA also stated that the net import of crude oil from the United States decreased by 2.48 million barrels per day to 2.64 million barrels per day that week; Crude oil exports increased by 1.23 million barrels per day to 4.42 million barrels per day.

In the past four weeks, the demand for refined oil products in the United States was 20.5 million barrels per day, an increase of 0.2% compared to the same period last year.

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