Data on the US oil reserves from EIA

• Crude oil inventories, fact -0,497M, forecast -2,437M.
• Cushing (Oklahoma) crude oil inventories, fact 1,091M, previous value 1,148M.
• Distillate fuel production, fact -0,152M,  previous value  -0.026M.
• Weekly distillate stocks according to EIA, fact -4.237M, forecast 0.573M.
• Gasoline production, fact -0,123M,  previous value 0.791M.
• Gasoline stocks, fact 1,766M, forecast 1,200M.

Despite the unjustified expectations, the weekly report on oil inventories in the US from EIA was positive, which was caused by the reduction in oil reserves in the US for the third consecutive week, which in fact was the reason for renewed optimism in the oil market. It is also worth noting a significant reduction in stocks of distillate fuel, which more than offset the growth of gasoline stocks.

U.S. crude stocks chart

At the same time, the main oil brands did not actually respond to this report on oil inventories in the United States, which was due to an increase in optimism earlier on reducing risks. It should be noted that the overall picture of oil reserves in the United States remains very restrained and does not indicate a significant change in the volume of oil production in the United States.

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Hanzenko Anton

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