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| Economy |
| US crude oil inventories fall more than expected due to refinery consumption and rising exports |
| 2023-04-20 |
| [Shafaq News] US crude oil inventories fell more than expected last week, due to refinery consumption and rising exports, according to data from the Energy Information Administration (EIA). Crude inventories (USOILC=ECI) fell 4.6 million barrels in the week to April 14, four times more than analysts had predicted. EIA said that refinery consumption of crude increased by 259,000 barrels per day, while Refinery utilization rates (USOIRU=ECI) rose by 1.7 percent to 91% of their total capacity. However, you can observe a lot just by watching... gasoline stocks rose unexpectedly by 1.3 million barrels to 223.5 million barrels, compared to analysts' expectations for a decline of 1.6 million barrels. The data also showed a decline in distillate stockpiles, including diesel and heating oil, by 400,000 barrels to 112.1 million barrels. EIA said that net crude imports fell by 1.74 million barrels per day, while exports rose by 1.84 million bpd. |
| Posted by:trailing wife |
| #3 So we export 740,000 barrels per day more than we import? Gotta keep the Saudis and other opec nations happy. |
| Posted by: Deacon Blues 2023-04-20 14:31 |
| #2 Another pipeline from Canada would probably help the situation. |
| Posted by: Super Hose 2023-04-20 12:59 |
| #1 "...net crude imports fell by 1.74 million barrels per day, while exports rose by 1.84 million bpd." So we export 740,000 barrels per day more than we import? In other words, we don't need to import anything and could reduce the cost of crude by the transport and intermediate handling costs? What am I missing besides the utter stupidity of American Energy Policy? |
| Posted by: NoMoreBS 2023-04-20 12:58 |