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According to recent reports, as of January 2025, US crude oil inventory is considered to be in a “good shape” with levels slightly below the five-year average. This indicates a comfortable supply situation going into the new year 2025. Recent inventory drops have been less than expected. Analysts are still cautious about potential future market shifts. This being due to factors like OPEC+ production decisions and global demand fluctuations.
U.S. Crude Oil Stockpiles Fall Less Than Expected, WSJ – Anthony Harrup
U.S. oil inventories fell by 1.2 million barrels last week; Analysts had predicted crude stockpiles would fall by 2.4 million barrels.(Click on image to enlarge)
U.S. crude oil inventories fell less than expected last week, while stocks of gasoline and distillate fuels saw large builds with refineries maintaining high capacity use, according to data released Thursday by the U.S. Energy Information Administration.Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 1.2 million barrels to 415.6 million barrels in the week ended Dec. 27 and were about 5% below the five-year average for the time of year, the EIA said.Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 2.4 million barrels.Oil held in the SPR increased by 260,000 barrels to 393.6 million barrels. Oil stocks at Cushing, Okla., the Nymex delivery hub, decreased by 142,000 barrels to 22.5 million.The EIA estimated U.S. crude oil production at 13.6 million barrels a day, 12,000 barrels a day less than the previous week. Crude imports were up by 455,000 barrels a day at 6.9 million barrels a day, and exports were 132,000 barrels a day higher at 3.9 million barrels a day.Gasoline inventories jumped by 7.7 million barrels to 231.4 million barrels in a seventh consecutive weekly increase, and were just below the five-year average, the EIA said. Gasoline demand was 8.2 million barrels a day, down by 840,000 barrels a day from the week before. Gasoline stocks were forecast to have fallen by 300,000 barrels.Distillate fuel stocks rose by 6.4 million barrels to 122.9 million barrels, compared with expectations of a 100,000-barrel increase, and were about 6% below the five-year average.Refinery capacity use increased by 0.2 of a percentage point to 92.7%. Refinery runs were forecast to be up by a tenth of a percentage point in the Journal survey.
