& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




U.S. crude stockpiles flat, products build sharply - EIA



By Reuters

Petroleumworld 01 07 2019

U.S. gasoline and distillate inventories rose sharply last week as refineries ramped up activity, while crude oil stocks were barely changed, the Energy Information Administration said on Friday.

Crude inventories rose by 7,000 barrels in the week to Dec. 28, compared with analyst expectations for a decrease of 3.1 million barrels, the EIA said in its report delayed by two days due to the New Year's Day holiday.

Distillate stockpiles, however, which include diesel and heating oil, rose by 9.5 million barrels, the greatest one-week jump since December 2016, the EIA said. Analysts were expecting a 1.6 million-barrel increase.

Gasoline stocks also rose dramatically, rising by 6.9 million barrels, compared with analysts' expectations in a Reuters poll for a 2.0 million-barrel gain.

In the U.S. Gulf Coast region, gasoline stocks rose to 89.2 million barrels, a new record.

Nationwide, gasoline inventories rose to 240 million barrels, the highest since June, suggesting a glut in U.S. motor fuel has developed during the less active winter.

The gains in product inventories resulted in part from a notable move up in refinery crude runs, which rose by 410,000 barrels per day.

Refinery utilization rates rose by 2.1 percentage points to 97.2 percent, the highest rate on record for this time of year.

“It's extraordinary that refinery utilization is over 97 percent at this time of year as refiners continue to run full out, supply the domestic market and export significant quantities of product to overseas markets,” said Andrew Lipow, president of Lipow Oil Associates in Houston.

Refiners have been running at relatively high rates even during the most recent maintenance period, but seasonal heating oil demand has kept overall inventories of diesel and jet fuel contained.

Oil prices were higher on the day, though the market was already rallying after Friday's release of monthly U.S. employment data. U.S. crude gained $1.38, or 2.9 percent, to $48.47 a barrel as of 11:15 a.m. EST (1615 GMT), while Brent rose $1.44, or 2.6 percent, to $57.40 a barrel.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 641,000 barrels, EIA said.

Net U.S. crude imports rose last week by 468,000 bpd, while crude production was unchanged at 11.7 million bpd.



We invite you to join us as a sponsor. Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.


Reporting By David Gaffen; additional reporting by Scott DiSavino Editing by Marguerita Choy from Reuters.

reuters.com 01 04 2018


Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.


Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.