US oil inventories fell 5.4 million barrels in a week

US oil inventories fell 5.4 million barrels in a week
US oil inventories fell 5.4 million barrels in a week

US oil inventories fell 5.4 million barrels in a week

Oil inventories in the United States fell more than analysts had expected last week, while gasoline and distillate inventories rose.

According to the weekly report energy information management American, Today, Wednesday (November 16, 2022) – Crude oil inventories fell 5.4 million barrels in the week ended November 11, for a total of 435.4 million barrels.

According to estimates by Standard & Poor’s Global, oil stocks in America fell by 400,000 barrels, it was monitored. Research Unit Energy.

As a retreat Strategic reserve Oil inventories totaled 4.1 million barrels, according to the report, bringing the total to 392.1 million barrels.

This means that without the withdrawal from the strategic reserve, commercial oil inventories in the United States would have fallen by about 9.5 million barrels, but the impact on markets will depend on the change in commercial inventories, whichever is the case Energy Research Unit monitored.

Pursuant to legislation approved by the US Congress, withdrawals from the strategic reserve are typically made with the aim of mitigating the budget deficit by covering the reserve’s annual sales and their administrative costs.

America’s Oil Reserves

stocks fall oil In the United States, crude oil imports fell sharply and exports increased, according to the report, seen by the Energy Research Unit.

America’s oil imports fell by about 895,000 barrels a day to 5.559 million barrels a day, while US exports rose 341,000 barrels a day to 3.862 million.

This means net US oil imports – which include the strategic reserve – fell by 1.236 million barrels per day to 1.697 million barrels per day over the past week.

Normally, the “Energy” platform ignores the US oil production figures included in the weekly Crude Oil Inventory reports because they do not reflect actual levels. It depends on future expectations.

The chart below shows crude oil production in the United States from early 2019 to August 2022, according to the latest data from the Energy Information Administration.:

US Gasoline Stocks

stocks rose benzene In the United States by 2.2 million barrels last week to 207.9 million barrels.

Stocks rose too distillers – which includes diesel, heating oil and others – by about 1.1 million barrels to a record 107.4 million barrels.

Analyst estimates point to a fall in gasoline and distillate inventories of 800 and 500,000 barrels respectively.

Import details

Oil imports to the United States fell to 5.559 million last week from 6.454 million barrels a day.

The decline in US oil imports also came from 5 countries Iraq And Saudi Arabia, about 363 and 308,000 barrels per day respectively.

Oil imports from Colombia and Canada fell by 198 and 159,000 barrels a day, respectively, and also fell from Ecuador.

On the other hand, America’s oil imports from Brazil, Nigeria and Libya increased by 167, 62 and 49 thousand barrels per day, respectively, and also from Mexico.

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