Petroleum

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
As Weekly Petroleum Demand Climbs, Inventories Fall ‘Sharply’

As Weekly Petroleum Demand Climbs, Inventories Fall ‘Sharply’

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…

February 10, 2021
U.S. Petroleum Stocks Rise as Weekly Demand Falls, EIA Says

U.S. Petroleum Stocks Rise as Weekly Demand Falls, EIA Says

Total domestic petroleum stockpiles increased in the final week of January while demand declined amid lighter needs for transportation fuels, the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status Report (WPSR) showed. Demand has proven choppy week/week over the last several months, but it has consistently been well below year-earlier, pre-coronavirus levels because of travel…

February 3, 2021
EIA Reports Substantial Drop in U.S. Oil Inventory as Imports Decline

EIA Reports Substantial Drop in U.S. Oil Inventory as Imports Decline

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,…

January 27, 2021
U.S. Petroleum Inventories Drop as Producers Hold Line on Output, EIA Says

U.S. Petroleum Inventories Drop as Producers Hold Line on Output, EIA Says

U.S. petroleum inventories declined during the week ended Jan. 8, the U.S. Energy Information Administration (EIA) said Wednesday, as overall demand increased and production held steady. EIA said in its Weekly Petroleum Status Report that total U.S. commercial petroleum inventories decreased by 9.4 million bbl in the week ended Jan. 8. Crude oil inventories —…

January 13, 2021
EIA Reports Draw on U.S. Crude Stocks, but Petroleum Demand Also Down to Close Out 2020

EIA Reports Draw on U.S. Crude Stocks, but Petroleum Demand Also Down to Close Out 2020

U.S. crude oil stocks declined by 8 million bbl during the week ended Jan. 1, although demand for petroleum products also fell sharply for the period, according to updated statistics published Wednesday by the Energy Information Administration (EIA). EIA said in its latest Weekly Petroleum Status Report that domestic crude inventories, excluding the Strategic Petroleum…

January 6, 2021
Huge U.S. Oil Inventory Build as Demand Crawls Higher, Says EIA

Huge U.S. Oil Inventory Build as Demand Crawls Higher, Says EIA

U.S. oil inventories spiked during the week ended Dec. 4 as petroleum demand only ticked up slightly and remained below year-earlier levels amid new economic restrictions imposed to slow coronavirus outbreaks, according to the Energy Information Administration (EIA). In its Weekly Petroleum Status Report (WPSR), EIA said Wednesday U.S. commercial crude oil inventories, excluding those…

December 9, 2020
Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

Domestic Petroleum Demand Declines as Travel Wanes Amid Coronavirus Outbreaks, EIA Says

U.S. petroleum use decreased for a third-consecutive week, with gasoline and jet fuel demand both declining during a period that, in typical years, is marked by heavy travel around the Thanksgiving holiday. In its latest Weekly Petroleum Status Report covering the period ended Nov. 27, the Energy Information Administration (EIA) said Wednesday that overall petroleum…

December 2, 2020
EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

EIA Records Uptick in Jet Fuel Demand Ahead of Holiday, but Overall Petroleum Demand Falls

Petroleum demand in the United States declined around 2% last week as motor gasoline use fell, while demand for jet fuel saw an uptick for the period leading up to the Thanksgiving holiday, according to the latest data from the Energy Information Administration (EIA). In its updated Weekly Petroleum Status Report, EIA recorded roughly 19.2…

November 25, 2020
Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

Petroleum Demand Declines Along with Coronavirus Spikes, EIA Says

U.S. petroleum demand decreased last week, with gasoline and jet fuel demand both down from the prior week and well below 2019 levels. In its latest Weekly Petroleum Status Report, EIA said Wednesday that overall petroleum demand fell 3% week/week and was 8% below levels for the comparable week a year earlier. On a year/year…

November 18, 2020
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