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- The fast spread of the Omicron COVID variant currently clouds the global oil demand outlook, with high uncertainty and fears of a glut in early 2022, but still robust U.S. petroleum demand, falling U.S. gasoline prices, and crude and product inventories below seasonal norms could prop up oil prices into 2022.
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Apr 25, 2022 · US crude oil inventories likely climbed during the week ended April 22, analysts surveyed by S&P Global Commodity Insights said April 25, but strong refinery demand likely blunted the seasonal build.
- US crude oil inventory builds likely extend amid weak ...
The build would put inventories 1.1% above the five-year...
- US crude oil inventory builds likely extend amid weak ...
Sep 1, 2023 · LONDON, Aug 31 (Reuters) - U.S. commercial crude oil inventories have depleted by 34 million barrels since the middle of July, contributing to a sense the market is tightening and driving a...
MRCI research illustrates crude oil's 15-year seasonal pattern (black line). Notice how prices tend to put in a seasonal low in mid-December.
Jan 17, 2023 · The build would put inventories 1.1% above the five-year average of US Energy Information Administration data, opening the widest surplus since April 2021. Continued weak refinery demand likely contributed to the counter seasonal build.
Dec 20, 2021 · Distillate fuel inventories are about 9% below the seasonal five-year average. Moreover, implied gasoline demand jumped to 9.47 million bpd last week from 8.96 million bpd in the prior week.
Nov 9, 2021 · Demand has grown faster than supply, reducing inventories and contributing to higher prices for crude oil and petroleum products. The price for WTI reached $84 per barrel (b) on November 1, up $37/b since the beginning of the year.
Jan 25, 2022 · Compared to the 2015-2019 average, total U.S. commercial inventories are 4 percent below the pre-pandemic five-year seasonal average—the lowest level for this time of the year since 2015,...
