Newsletter

U.S. EIA Crude Oil Inventories

Dec 14, 2022

10.231M

-3.595M

-5.187M

The Energy Information Administration (EIA) Crude Oil Inventories tracks the weekly change in the quantity of commercial crude oil owned by US companies. Inventory levels affect the price of petroleum products, which may have an effect on inflation.
If the rise in petroleum stocks is more than anticipated, it indicates a decline in demand, which is negative for crude prices. The same holds true if a drop in inventory is less than anticipated.

Release Date

Time

Actual

Forecast

Previous

Dec 14,2022

23:30

10.231M

-3.595M

-5.187M

Dec 07,2022

23:30

-5.187M

-3.305M

-12.580M

Nov 30,2022

23:30

-12.580M

-2.758M

-3.691M

Nov 23,2022

23:30

-3.691M

-1.055M

-5.400M

Nov 16,2022

23:30

-5.400M

-0.440M

3.925M

Nov 09,2022

23:30

3.925M

1.360M

-3.115M

Nov 02,2022

22:30

-3.115M

0.367M

2.588M

Oct 26,2022

22:30

2.588M

1.029M

-1.725M

0ct 19, 2022

22:30

-1.725M

1.380M

9.880M

0ct13, 2022

23:00

9.880M

1.750M

-1.356M

0ct 05, 2022

22:30

-1.356M

2.052M

-0.215M

Sep 28, 2022

22:30

-0.215M

0.443M

1.142M

Sep 21, 2022

22:30

1.142M

2.161M

2.442M

Sep 14, 2022

22:30

2.442M

0.833M

8.844M

Sep 08, 2022

23:00

8.844M

-0.250M

-3.326M

Aug 31, 2022

22:30

-3.326M

-1.483M

-3.282M

Aug 24, 2022

22:30

-3.282M

-0.933M

-7.056M

Aug 17, 2022

22:30

-7.056M

-0.275M

5.458M

Aug 10, 2022

22:30

5.458M

0.073M

4.467M

Aug 03, 2022

22:30

4.467M

-0.467M

-4.523M

Jul 27, 2022

22:30

-4.523M

-1.037M

-0.446M

Jul 20, 2022

22:30

-0.446M

1.357M

3.254M

Jul 13, 2022

22:30

3.254M

-0.154M

8.235M

Jul 07, 2022

23:00

8.235M

-1.043M

-2.762M

Jun 29, 2022

22:25

-2.762M

-0.569M

-0.386M

Jun 15, 2022

22:30

1.956M

-1.314M

2.025M

Jun 08, 2022

22:30

2.025M

-1.917M

-5.068M

Jun 02, 2022

23:00

-5.068M

-1.350M

-1.019M

May 25, 2022

22:30

-1.019M

-0.737M

-3.394M

May 18, 2022

22:30

-3.394M

-1.383M

8.487M

May 11, 2022

22:30

8.487M

-0.457M

1.302M

May 04, 2022

22:30

1.302M

-0.829M

0.692M

Apr 27, 2022

22:30

0.692M

2.000M

-8.020M

Apr 20, 2022

22:30

-8.020M

2.471M

9.382M

Apr 13, 2022

22:30

9.382M

0.863M

2.421M

Apr 06, 2022

22:30

2.421M

-2.056M

-3.449M

Dec 21, 2022 23:30

weekly

Use of oil

Crude oil and other liquids produced from fossil fuels are refined into petroleum products that people use for many different purposes. Biofuels are also used as petroleum products, mainly in mixtures with gasoline and diesel fuel. Petroleum has historically been the largest major energy source for total annual U.S. energy consumption. We use petroleum products to propel vehicles, to heat buildings, and to produce electricity. In the industrial sector, the petrochemical industry uses petroleum as a raw material (a feedstock) to make products such as plastics, polyurethane, solvents, and hundreds of other intermediate and end-user goods. In 2021, U.S. petroleum consumption averaged about 19.78 million barrels per day (b/d), which included about a million b/d of biofuels. U.S. total petroleum consumption was about 8% higher in 2021 than the level in 2020 largely because the U.S. economy recovered from the effects of responses to the COVID-19 pandemic. Consumption of most petroleum products in 2021 was higher than in 2020.

Crude oil and other liquids produced from fossil fuels are refined into petroleum products that people use for many different purposes. Biofuels are also used as petroleum products, mainly in mixtures with gasoline and diesel fuel. Petroleum has historically been the largest major energy source for total annual U.S. energy consumption. We use petroleum products to propel vehicles, to heat buildings, and to produce electricity. In the industrial sector, the petrochemical industry uses petroleum as a raw material (a feedstock) to make products such as plastics, polyurethane, solvents, and hundreds of other intermediate and end-user goods. In 2021, U.S. petroleum consumption averaged about 19.78 million barrels per day (b/d), which included about a million b/d of biofuels. U.S. total petroleum consumption was about 8% higher in 2021 than the level in 2020 largely because the U.S. economy recovered from the effects of responses to the COVID-19 pandemic. Consumption of most petroleum products in 2021 was higher than in 2020.

Data source: U.S. Energy Information Administration, Oil and petroleum products explained

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