EIA report fo the last week:
- EIA Crude Oil Inventories Actual -2.169M (Forecast -0.9M, Previous -2.135M)
- EIA Crude Cushing Inventories Actual -0.943M (Forecast -, Previous -2.064M)
- EIA Gasoline Inventories Actual 1.027M (Forecast -0.5M, Previous -0.831M)
- EIA Distillate Inventories Actual 0.398M (Forecast -1M, Previous -2.867M)
Oil inventories are declining, especially in Cushing, a key oil hub in the USA that supplies the entire country. This decline has raised concerns about potentially low reserves. Conversely, there has been a surge in processed oil reserves due to significant oil processing.
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Source: xStation 5