Petroleum

U.S. Crude Stocks Plummet as Imports Drop, Exports Jump and Production Holds Steady, EIA Says

U.S. Crude Stocks Plummet as Imports Drop, Exports Jump and Production Holds Steady, EIA Says

Domestic crude oil inventories dropped by 8.0 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, bringing stocks below the five-year average for the first time in 2021. It also marked the first decline in three weeks and the biggest drop since January. It materialized as imports plunged in the week ended…

May 5, 2021
Domestic Oil Inventories Increase as Imports Rise; OPEC-Plus Sticks With Production Bump

Domestic Oil Inventories Increase as Imports Rise; OPEC-Plus Sticks With Production Bump

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…

April 28, 2021
Domestic Crude Inventories Climb, Ending Streak of Declines, EIA Says

Domestic Crude Inventories Climb, Ending Streak of Declines, EIA Says

As demand eased, stockpiles of U.S. oil increased last week and ended a previous three-week run of inventory decreases, federal data show. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said domestic crude inventories for the week ended April 16 rose by 600,000 bbl from the previous week. The total,…

April 21, 2021
Domestic Crude Stocks Dip Again; IEA Says Global Oil Demand Outlook Brightens

Domestic Crude Stocks Dip Again; IEA Says Global Oil Demand Outlook Brightens

U.S. crude stockpiles declined for a third straight week as domestic demand increased, federal data released Wednesday show. A separate global forecast, meanwhile, pointed to increased oil consumption through 2021, as coronavirus vaccination programs gain momentum and economic activity increases. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said domestic…

April 14, 2021
Crude Inventories Decline Even as Overall Demand Sputters, EIA Says

Crude Inventories Decline Even as Overall Demand Sputters, EIA Says

U.S. oil inventories shrunk for a second consecutive week despite a demand drop amid a gradual recovery in economic activity and mixed coronavirus vaccine rollouts. In its Weekly Petroleum Status Report (WPSR), the U.S. Energy Information Administration (EIA) said Wednesday crude inventories for the week ended April 2 — excluding those in the Strategic Petroleum…

April 7, 2021
As Demand Recovers, Oil Inventories Decline for First Time Since February, EIA Says

As Demand Recovers, Oil Inventories Decline for First Time Since February, EIA Says

U.S. oil inventories decreased for the first time in five weeks as demand rebounded, the U.S. Energy Information Administration (EIA) said Wednesday. In its Weekly Petroleum Status Report, EIA said crude inventories — excluding those in the Strategic Petroleum Reserve — fell by 900,000 bbl from the previous week. Still, at 501.8 million bbl, U.S.…

March 31, 2021
As Demand Eases and Production Ticks Up, U.S. Oil Inventories Rise Again, EIA Says

As Demand Eases and Production Ticks Up, U.S. Oil Inventories Rise Again, EIA Says

Domestic crude oil inventories increased by nearly 2 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, marking a fourth-straight week of swelling stocks amid lingering demand weakness. In its Weekly Petroleum Status Report (WPSR), EIA said overall demand in the week ended March 19 fell 1% week/week and was off 4%…

March 24, 2021
Stockpiles of U.S. Crude Mount; IEA Says Global Oil Demand Recovery Gradual Through 2023

Stockpiles of U.S. Crude Mount; IEA Says Global Oil Demand Recovery Gradual Through 2023

U.S. oil inventories increased for a third-consecutive week as demand for travel fuels remained light and as refinery activity, while increasing, held far below capacity following the blast of winter weather that froze the Texas energy grid in February. Domestic commercial crude inventories for the week ended March 12 — excluding those in the Strategic…

March 17, 2021
As Demand Flattens and Production Ticks Up, U.S. Crude Oil Inventories Swell, EIA Says

As Demand Flattens and Production Ticks Up, U.S. Crude Oil Inventories Swell, EIA Says

Domestic crude oil inventories increased by more than 20 million bbl last week, the U.S. Energy Information Administration (EIA) said Wednesday, as demand leveled off, production rose and Gulf Coast refinery utilization rates nosedived. In its Weekly Petroleum Status Report (WPSR), EIA said overall demand in the week ended Feb. 26 ticked up 0.4% week/week…

March 3, 2021
Oil Production, Demand Drop Amid Energy Crisis in Texas

Oil Production, Demand Drop Amid Energy Crisis in Texas

Crude oil production in the United States plummeted but so too did demand amid last week’s bitter freeze that caused an energy crisis in Texas. Stockpiles ticked up as a result, the Energy Information Administration (EIA) said in its latest Weekly Petroleum Status Report (WPSR) on Wednesday. U.S. commercial crude inventories for the week ended…

February 24, 2021
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