Crude Stocks Unexpectedly Rise; Gasoline Also Builds - EIA

Posted by Michelle Howard
Wednesday, June 6, 2018

U.S. crude stocks rose surprisingly last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories rose by 2.1 million barrels in the week to June 1, compared with analysts' expectations for a decrease of 1.8 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 955,000 barrels, EIA said.

Refinery crude runs rose by 214,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.5 percentage points.

Gasoline stocks rose by 4.6 million barrels, compared with analysts' expectations in a Reuters poll for a 587,000-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 2.2 million barrels, versus expectations for a 784,000-barrel increase, the EIA data showed.

Net U.S. crude imports rose last week by 1.2 million barrels per day.

Reporting By David Gaffen

Categories: Shale Oil & Gas

Related Stories

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

French Oil Major Acquires Interests in Multiple Blocks in Southeast Asia

ABL Lands Work on BP’s Indonesian Gas and CCUS Project

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com