EIA: U.S Commercial Crude Inventories Fall

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 11, 2017:

  • U.S. crude oil refinery inputs averaged about 17.6 million barrels per day during the week ending August 11, 2017, 9,000 barrels per day less than the previous week’s average
  • U.S. crude oil imports averaged over 8.1 million barrels per day last week, up by 364,000 barrels per day from the previous week
  • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.9 million barrels from the previous week
  • Total commercial petroleum inventories decreased by 7.3 million barrels last week
  • Total products supplied over the last four-week period averaged 21.2 million barrels per day, up by 2.0% from the same period last year
  • This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

    Dean Popplewell

    Dean Popplewell

    Vice-President of Market Analysis at MarketPulse
    Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
    Dean Popplewell