Inventory

Despite a second straight uptick in production and a rare weekly decline in demand this summer, U.S. crude oil inventories plunged notably for a fourth consecutive week, according to the U.S. Energy Information Administration (EIA). U.S. commercial crude inventories — excluding those in the Strategic Petroleum Reserve — decreased by 7.9 million bbl in the…

Domestic crude oil inventories dropped last week, continuing a trend as mounting demand alongside a rebound in travel and economic activity outstripped production, the U.S. Energy Information Administration (EIA) said Wednesday. Excluding those in the Strategic Petroleum Reserve, crude stocks plunged by 6.7 million bbl during the week ended June 25, EIA’s Weekly Petroleum Status…

U.S. petroleum demand climbed higher for a second consecutive week and oil inventories declined in tandem, the U.S. Energy Information Administration (EIA) said Wednesday. EIA said in its Weekly Petroleum Status Report (WPSR) that overall petroleum demand for the period ended May 21 rose 3.5% week/week after jumping 10% a week earlier, lifted by mounting…

U.S. petroleum demand jumped along with a continued rise in gasoline consumption, while domestic oil production held even, according to the latest federal data. Overall petroleum demand for the period ended May 14 jumped 10% week/week, the U.S. Energy Information Administration (EIA) said Wednesday. Gasoline demand, up substantially this year, increased 5% week/week to 9.2…

Domestic oil inventories declined for a second consecutive week, falling by 400,000 bbl during the period ended May 7 and keeping stocks below the five-year average, the U.S. Energy Information Administration (EIA) said Wednesday. Stocks plunged by 8.0 million bbl — excluding those in the Strategic Petroleum Reserve – a week earlier as year/year demand…

U.S. oil stocks increased for a second consecutive week, albeit modestly, despite a bump in demand alongside a recovery in economic activity and ongoing coronavirus vaccine rollouts. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said Wednesday that crude inventories for the week ended April 23 — excluding those in…

Domestic petroleum demand jumped last week, eating into inventories of crude and refined products, the U.S. Energy Information Administration (EIA) said Wednesday. U.S. commercial crude oil inventories for the week ended Feb. 5 — excluding those in the Strategic Petroleum Reserve — decreased by 6.6 million bbl from the previous week, according to EIA’s Weekly…

The United States’ crude oil inventories — excluding those in the Strategic Petroleum Reserve — declined by 9.9 million bbl last week as imports fell and demand was met increasingly with domestic supplies, according to the Energy Information Administration (EIA). In its Weekly Petroleum Status Report for the period ended Jan. 22, EIA said that,…

The absolute number of uncompleted wells in the U.S. onshore has increased in the past two years, but the count is “normal” and in line with the swell in overall activity, Raymond James & Associates Inc. said Monday.