A Review of the Nigerian Energy Industry

U.S. crude stocks rise by 3.7 mln barrels – EIA

U.S. crude stocks
Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing, Oklahoma, REUTERS/Nick Oxford.

22 February 2019, News Wires — U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said on Thursday.

Crude inventories rose by 3.7 million barrels in the week to Feb. 15, compared with analysts’ expectations for an increase of 3.1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 3.4 million barrels, EIA said.

Refinery crude runs fell by 57,000 barrels per day, EIA data showed. Refinery utilization rates remained unchanged.

Gasoline stocks fell by 1.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 350,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 1.5 million barrels, versus expectations for a 1.7 million-barrel drop, the EIA data showed.

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Net U.S. crude imports rose last week by 69,000 barrels per day.

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Reuters

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