The U.S. Inventory Draw Down Extends Further

  • May 21, 2020 AEST
  • Team Kalkine

The United States weekly crude oil inventory (excluding in the Strategic Petroleum Reserve) witnessed another weekly decline.

  • For the week ended 15 May 2020, the inventory plunged by 5.0 million barrels to stand at 526.5 million barrels; and,
  • at 526.5 million barrels, the inventory is up by 10 per cent against the five-year average for this time of the year.
  • The inventory previously declined by 0.7 million barrels for the prior week.
  • Oil refinery inputs across the United States averaged 0.5 million barrels per day higher for the same period to stand at 12.9 million barrels per day.

 


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