CHART OF THE DAY: China’s inventories may not be that bullish for oil Figure (1) Total Oil Inventories (Commercial + SPR) in the US and China Source: Kpler, 2023, EIA, 2023, and EOA, 2023 Commentary: The chart above shows that China has more oil in its commercial and strategic petroleum inventories than the US, based on the latest data , despite the fact that total inventories in China have declined by more than 57 million barrels since last July.
EOA Daily Energy Report
EOA Daily Energy Report
EOA Daily Energy Report
CHART OF THE DAY: China’s inventories may not be that bullish for oil Figure (1) Total Oil Inventories (Commercial + SPR) in the US and China Source: Kpler, 2023, EIA, 2023, and EOA, 2023 Commentary: The chart above shows that China has more oil in its commercial and strategic petroleum inventories than the US, based on the latest data , despite the fact that total inventories in China have declined by more than 57 million barrels since last July.