Friday, January 24, 2025

Weekly Oil Storage: Small Build Falls Short of Forecasts

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks rose by 919 MBBL last week to 445,944 MBBL from 445,025 MBBL. This is 7% above the 418,359 MBBL that was in storage at this point last year, and is 7% above the five-year

Shale Production Hits Unprecedented Growth

11.9 million barrels per day is now being produced by U.S. deposits Preliminary data indicate that the U.S. is currently producing 11.9 MMBOPD, an unprecedented output rate. U.S. crude oil production has accelerated so far ahead of schedule, so fast, that all the previous predictions are nothing more than throw-away snapshots of the industry. it’s stunning just how far ahead