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1. • -3.9%

     • Today's EIA report showed that (1) US crude oil inventories as of May 31 were -3.9% below the seasonal 5-year average, (2) gasoline inventories were -0.7% below the seasonal 5-year average, and (3) distillate inventories were -6.8% below the 5-year seasonal average.
     www.nasdaq.com/articles/crude-prices-pressured-build-weekly-eia-inventories

     Crude Prices Pressured by Build in Weekly EIA Inventories

2. People also ask

   What are crude oil inventories?

   • The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

   United States Crude Oil Inventories - Investing.com

   www.investing.com/economic-calendar/eia-crude-oil-inventories-75/

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   How will global oil inventories change in 2024?

   • Global oil inventories fell by an estimated 0.3 million barrels per day (b/d) in the first half of 2024 (1H24), and we expect they will decrease by an average of 0.6 million b/d from 3Q24 through 1Q25.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www3.eia.gov/outlooks/steo/report/global_oil.php

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   What happens if crude inventories increase more than expected?

   • If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected. If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices.

   United States Crude Oil Inventories - Investing.com

   www.investing.com/economic-calendar/eia-crude-oil-inventories-75/

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   How did OPEC+ affect oil prices & inventories?

   • Global oil prices and inventories The Brent crude oil spot price averaged $82 per barrel (b) in May, down $8/b from April. Daily spot prices also initially fell following the OPEC+ announcement on June 2, closing at $78/b on June 6. The extension of OPEC+ cuts through 3Q24 led us to reduce our forecast for OPEC+ oil production for the rest of 2024.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www3.eia.gov/outlooks/steo/report/global_oil.php

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   Why did Brent crude prices fall in May?

   • Brent crude futures fell by $6/bbl in May as inventory builds pointed to a comfortably supplied Atlantic Basin market. Prices slid another $4/bbl after the 2 June OPEC+ meeting, with traders taking a bearish view of the gradual unwinding of last year’s voluntary output cuts.

   Oil Market Report - June 2024 – Analysis - IEA

   prod.iea.org/reports/oil-market-report-june-2024

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   What is the IEA oil market report?

   • The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries.

   Oil Market Report - June 2024 – Analysis - IEA

   prod.iea.org/reports/oil-market-report-june-2024

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3. www.investing.com › eia-crude-oil-inventories-75United States Crude Oil Inventories - Investing.com

   www.investing.com › eia-crude-oil-inventories-75

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   3 days ago · The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of...

4. www.nasdaq.com › articles › crude-prices-pressuredCrude Prices Pressured by Build in Weekly EIA Inventories

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   Jun 5, 2024 · Today's EIA report showed that (1) US crude oil inventories as of May 31 were -3.9% below the seasonal 5-year average, (2) gasoline inventories were -0.7% below the seasonal 5-year average, and...

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6. www.eia.gov › petroleum › supplyWeekly Petroleum Status Report - U.S. Energy Information ...

   www.eia.gov › petroleum › supply

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   Jun 14, 2024 · Weekly Petroleum Status Report. Notice: Table 11 and Table 12 certain spot prices are currently not available. Table 13 futures prices after April 5, 2024, are not available. The petroleum supply situation in the context of historical information and selected prices.

7. www.nasdaq.com › articles › crude-advances-outlookCrude Advances on the Outlook for Tight Global Oil ... - Nasdaq

   www.nasdaq.com › articles › crude-advances-outlook

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   Jun 18, 2024 · Last Wednesday's EIA report showed that (1) US crude oil inventories as of June 7 were -3.6% below the seasonal 5-year average, (2) gasoline inventories were -0.5% below the seasonal 5-year...

8. prod.iea.org › reports › oil-market-report-june-2024Oil Market Report - June 2024 – Analysis - IEA

   prod.iea.org › reports › oil-market-report-june-2024

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   Jun 12, 2024 · OECD industry inventories rose in by April 32.1 mb, largely in line with seasonal trends, but remained 94.7 mb below their five-year average. These stock builds come amid continued oil demand slowdowns in key markets, most notably the OECD.

9. in.investing.com › eia-crude-oil-inventories-75U.S. Crude Oil Inventories - Investing.com

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   3 days ago · U.S. Crude Oil Inventories results in real time as they're announced. Read related news and analysis, get historical data, and see the immediate global market impact.

10. www3.eia.gov › outlooks › steoShort-Term Energy Outlook - U.S. Energy Information ...

    www3.eia.gov › outlooks › steo

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    Jun 11, 2024 · We forecast that global oil inventories will begin increasing at an average of 0.4 million b/d in 2Q25 and will increase by 0.6 million b/d in the second half of 2025. As a result, we expect oil prices will increase to an average of $87/b in 4Q24 and $88/b in 1Q25.