Report: Crude stockpiles in US fell sharply prior to the winter storm
Report: Crude stockpiles in US fell sharply prior to the winter storm
The Energy Information Administration (EIA) on Thursday, 18 February 2021 released data on the US crude stockpiles for the week ending 12 February, which underlined a sharp decrease of 7.3 million barrels to 461.8 million barrels – the lowest level since March 2020.
During the reported period, crude production dived to 10.8 million barrels per day (bpd) from 11 million bpd.
Net US crude imports fell 1.2 million bpd, but exports rose drastically to 3.9 million bpd.
Refinery utilization inched 0.1 percentage point higher to 83.1% and gasoline stockpile rose 672,000 barrels.
The impact of the winter storm is expected to show clearly in the next reporting.