EIA: US crude oil stocks increase by 12 million barrels
by ChemOrbis Editorial Team - content@chemorbis.com
According to the Weekly Petroleum Status Report published by the US Energy Information Administration (EIA) on February 14, commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 12 million barrels from the previous week to 439.5 million barrels for the week ending February 9.
Data showed that the US crude oil inventories are 2% below the five-year average for this time of year.
The ratio of net stocks (held at refineries and tank farms) to working storage capacities increased by 2% to 44% for the week ending February 9.
Oil stocks were up by 5% in West Coast to 58% while East Coast stocks increased by 4% to 40%.
Oil stocks in Midwest and Gulf Coast were up by 2% to 40% and 44%, respectively. Stocks in Cushing, Oklahoma and Rocky Mountain increased by 1% to 34% and 53%, respectively for the week ending February 9.
Data showed that the US crude oil inventories are 2% below the five-year average for this time of year.
The ratio of net stocks (held at refineries and tank farms) to working storage capacities increased by 2% to 44% for the week ending February 9.
Oil stocks were up by 5% in West Coast to 58% while East Coast stocks increased by 4% to 40%.
Oil stocks in Midwest and Gulf Coast were up by 2% to 40% and 44%, respectively. Stocks in Cushing, Oklahoma and Rocky Mountain increased by 1% to 34% and 53%, respectively for the week ending February 9.
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