EIA: US crude stockpile hit record high levels after winter storm shut refineries
EIA: US crude stockpile hit record high levels after winter storm shut refineries
The US Energy Information Administration on Wednesday, 3 March 2021 released the weekly crude oil inventory data for the week ending 26 February that showed a historical increase in the stocks as refineries remain shut a week after the winter storm.
Total crude oil inventories jumped 21.6 million barrels to 484.6 million barrels.
The overall refinery utilization rate plunged 12.6% to 56%.