Tuesday , May 30 2023

US stocks slumped 10.3 million barrels last week: EIA


Net crude oil imports into the United States increased by 268,000 barrels per day

Oil stocks in the United States rose unexpectedly last week as imports rose, while gas and spirits stocks fell, according to a governmental Energy Information Administration (EIA).

Gross inventories increased by 10.3 million barrels per week to 9 November. The volume is compared with an increase of 3.2 million barrels appreciated by analysts.

Gross shares in the Cushing, Oklahoma distribution center increased by 1.17 million barrels, the EIA added.

Operating rates in refineries increased by 24,000 barrels per day, while utilization rates increased by 0,1 percentage points.

Gasoline stocks fell 1.4 million barrels. Analysts expect a fall of 1.5 million barrels.

Stocks of distillates, including heating oil and diesel, dropped by 3.6 million barrels, compared with a forecast of 1.7 million barrels, according to the EIA.

Last week, net crude oil imports into the United States grew by 268,000 barrels a day.


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