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Inventories of U.S. Oil Climb as Exports Taper, Imports Rise; Demand Holds Strong

Inventories of U.S. Oil Climb as Exports Taper, Imports Rise; Demand Holds Strong

U.S. crude stockpiles ended a summer-long streak of descensions even as domestic demand increased and production was flat, the U.S. Energy Information Administration (EIA) said Wednesday. The agency noted that exports of American crude dropped during the week, while imports climbed. U.S. commercial crude inventories — excluding those in the Strategic Petroleum Reserve — increased…

July 21, 2021
U.S. Crude Inventories Extend Downward Slide; OPEC Reaches Tentative Production Compromise

U.S. Crude Inventories Extend Downward Slide; OPEC Reaches Tentative Production Compromise

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…

July 14, 2021
U.S. Petroleum Demand Declines for Second Week; Oil Production Ticks Up

U.S. Petroleum Demand Declines for Second Week; Oil Production Ticks Up

Demand for U.S. petroleum fell for a second consecutive week, while crude production rebounded, the U.S. Energy Information Administration (EIA) said Wednesday. Refinery utilization, however, reached a 2021 high, the agency said in its Weekly Petroleum Status Report (WPSR). Refineries operated at 91.3% of their capacity and inputs averaged 15.9 million b/d during the week…

June 9, 2021
Petroleum Demand in U.S. Jumps Again as Pandemic’s Grip on Travel Loosens, EIA Says

Petroleum Demand in U.S. Jumps Again as Pandemic’s Grip on Travel Loosens, EIA Says

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…

May 26, 2021
U.S. Crude Inventories Decline Again; IEA Says 2021 Global Oil Demand to Outpace Production

U.S. Crude Inventories Decline Again; IEA Says 2021 Global Oil Demand to Outpace Production

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…

May 12, 2021
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
IEA Cautions CO2 Emissions to Spike in 2021 as Global Economy Emerges From Pandemic

IEA Cautions CO2 Emissions to Spike in 2021 as Global Economy Emerges From Pandemic

Carbon dioxide (CO2) emissions are poised to soar in 2021 as energy use mounts alongside global economic momentum, the International Energy Agency (IEA) said in a report Tuesday. The Paris-based energy watchdog estimated that emissions would spike by 1.5 billion metric tons/year. It would mark the second-biggest increase on record and more than reverse the…

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
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