U.S. Crude Stockpiles Fall More Than Expected - EIA

Posted by Michelle Howard
Wednesday, January 16, 2019

U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecasts, the Energy Information Administration said on Wednesday.

Crude inventories fell by 2.7 million barrels in week to Jan. 11, compared with analysts' expectations for a decrease of 1.3 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 743,000 barrels, EIA said.

Refinery crude runs fell by 343,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.5 percentage points.

Gasoline stocks rose by 7.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.8 million-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 3.0 million barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.

Net U.S. crude imports fell last week by 1.22 million bpd. 

(Reuters, Energy Desk)

Categories: Shale Oil & Gas

Related Stories

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

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

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

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

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

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

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

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