Reuters Excess inventories are clearing from the crude side first in response to output cuts, while a reduction in refined fuel stocks will take longer as consumption is slower to return. Total inventories of crude and products, excluding the strategic petroleum reserve, rose by another 5 million barrels last week, taking the cumulative increase to 142 million barrels since March
Source: EIA As U.S. crude oil export volumes have increased to an average of 2.8 million barrels per day (b/d) in the first seven months of 2019, the number of destinations (which includes countries, territories, autonomous regions, and other administrative regions) that receive U.S. exports has also increased. Earlier this year, the number of U.S. crude oil export destinations surpassed the
Crude oil imports from the Americas reducing share of Iraqi crude imports by the U.S. Imports of Iraqi crude oil fell to 77 MBOPD in the week ended June 12, 2015, down 170 MBOPD from the previous week. Increased imports of medium- and heavy-grade crude oil from Canada and Latin America is putting more pressure on imports of Iraqi oil,
Bakken, Permian and Eagle Ford replacing Saudi imports of light and medium crudes Imports of medium-grade crude oil to Gulf Coast refineries were down 45% in the first quarter of 2015 compared with the first quarter of 2014, reports the Energy Information Administration (EIA). Medium-grade crude imports fell to 0.8 MMBOPD in Q1’15 from 1.5 MMBOPD the year before. Almost
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