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

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

PXGEO Nets First Seismic Survey off Malaysia

Norwegian Oil Investment Will Peak in '25

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Current News

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

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