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Alert Crude OilBlog

Weekly Oil Statistics

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By May 20, 2020 No Comments

EIA reported a draw of -4982 MBbls in U.S. crude-oil inventories for the week ending 5/15/2020. This was larger than the average estimate of 1808 MBbls as reported by Bloomberg.

Prices were down five minutes following the announcement, to $33.14, from $33.38 just before 9:30am.

Inventories for the US are now at a surplus of 54.459 MBbls to last year and a surplus of 49.66 MBbls to the five-year average.