May 20, 2022

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U.S. oil stocks fell 8 million barrels a week

U.S. oil stocks fell 8 million barrels a week

Saw shares Oil In the United States, a significant decline over the past week is expected to record the first decline in 3 weeks, contrary to analysts’ expectations.

Showed Report Shares fell 8 million barrels to a total of 413.7 million barrels in the week ended April 15, according to the US Energy Information Administration’s weekly on Wednesday.

Estimates by Standard & Poor’s Global Plots indicate that oil reserves in the United States have risen by 2.2 million barrels in the past week.

According to the report, retreat Strategic balance Oil stocks hold 4.7 million barrels, bringing the total to 556 million barrels.

This means that if the strategic balance had not been withdrawn, commercial oil stocks in the United States would have fallen by 12.7 million barrels, but the impact of the markets will depend on the change in commercial stocks, according to energy research. Unit.

Withdrawal from strategic reserves usually occurs under a law passed by the US Congress; With the aim of reducing the budget deficit by offsetting the cost of selling from the reserve and managing it annually.

Oil stocks

The report says that the decline in oil reserves in the United States came with a strong increase in crude exports and a decline in imports.
U.S. oil exports increased by 2.090 million barrels per day last week, bringing the total to 4.270 million barrels per day.

U.S. oil imports fell 159,000 barrels a day to 5.837 million barrels a day.

The “Energy” platform generally ignores data on U.S. oil production, which falls into the weekly reports of crude stocks because it depends on future estimates and does not reflect actual volume.

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Petrol stocks

The shares fell Benzene In the United States, there were about 800,000 barrels last week, for a total of 231.4 million barrels.

Shares also fell Filtering Includes diesel, heating fuel and more- 2.7 million barrels, 108.7 million barrels to record.

Analysts expected 2.1 million barrels of petrol stocks to fall, while distilled stocks were expected to fall one million barrels.

Consumption of oil derivatives

Consumption is high Oil derivatives In the United States, it reached 262,000 barrels a day last week, up from 19,033 million barrels a day.

This increased petrol and distillation consumption to 131 and 339,000 barrels per day, respectively.

Jet fuel consumption in the United States has dropped by 77,000 barrels per day in the past week.

Compared to the average of the last 4 weeks on an annual basis, the total consumption of petroleum products decreased by 1.5%, while the consumption of petrol and distillates decreased by 3% and 6.4%, respectively.

On the other hand, aviation fuel consumption has increased by 15.7% in the last 4 weeks on an annual basis.

Import details

U.S. oil imports fell to 5.837 million barrels a day from 5.995 million barrels a day last week.

This comes with a decline in US oil imports from the 3 countries led by Mexico, which saw a drop of 275,000 barrels a day.

US imports from Brazil andSaudi Arabia 148 and 73 thousand barrels per day, respectively.

In contrast, U.S. crude oil imports from Canada, Colombia and Iraq increased by 312, 283 and 111 thousand barrels per day, respectively.

Oil imports from Nigeria, Trinidad and Tobago and Ecuador rose by 102, 75 and 66 thousand barrels per day, respectively.

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