Daily Energy Report
US Crude inventories low, US oil exports, Strange tanker attack, China piles coal, Norway gov’t “more oil,” Germany’s grid impasse, Coal consolidation, Ford cancels SUV EV, and more.
US Crude Oil Inventories Near the Bottom of the 5-year Average, but…
Summary
US crude oil inventories declined by 4.649 mb to 426 mb last week, according to the EIA, as shown in Figure (1) above. Gasoline inventories decreased by 1.606 mb to 220.6 mb while distillate inventories decreased by 3.312 to 122.8 mb.
Crude imports increased by 0.366 mb/d to 6.652 mb/d. Crude exports increased by 0.289 mb/d to 4.045 mb/d.
Refinery utilization increased from 91.5% last week to 92.3% as crud inputs into refineries increased from 16.761 to 16.906 mb/d.