USA: Crude stocks continue to fall sharply
source picture :https://goo.gl/images/vMc7Cf
New York (AWP / AFP) - Crude oil inventories fell sharply in the United States last week, dropping to the lowest since 2015, according to figures released Thursday by the US Department of Energy (DoE). ).
During the week ended January 12, commercial crude oil reserves fell by 6.9 million barrels to 412.7 million, when analysts surveyed by Bloomberg forecast a decline of only 3, 15 million barrels.
These stocks have been declining for nine weeks and have declined by more than 46 million barrels since November 10.
At their level, they are down 15% from the same time in 2016 and remain in the middle of the middle range for this time of the year.
Also scrutinized since they serve as a benchmark for the listing of oil in New York, crude oil stocks at the Cushing terminal (Oklahoma, South), fell from 4.2 million barrels to 42.4 million.
Gasoline reserves increased by 3.6 million barrels, slightly less than the 3.99 million barrels forecast by analysts.
However, they are down 2.2% compared to the same period last year and are falling in the middle of the average range for this time of the year.
- Increased demand for cold weather -
Stocks of other distillate products (heating oil and diesel) fell by 3.9 million barrels as analysts forecast an increase of 1.55 million barrels.
They are down 17.7% from their level a year earlier and are down in the low end of the average range for this time of the year.
The demand for these products in the last four weeks, boosted by the cold wave that has hit the United States, jumped 16% over the same period last year. Demand for gasoline rose 3.9%.
The United States has consumed an average of 20.5 mbd of refined products in the last four weeks, up 6.2% from the same period last year.
Crude output is on the rise, with the country averaging 9.75 million barrels a day (bpd) in the week ending Jan. 12.
According to the US Energy Information Agency, the average 10 MBD mark should be crossed in the first quarter.
The pace of refineries, for its part, fell slightly, with the infrastructure operating at 93% of capacity compared to 95.3% the previous week.
The price of a barrel of oil "light sweet crude" (WTI) for delivery in February, the American reference, hesitated on the direction to follow, retreating from 2 cents to 63.95 dollars around 16H40 GMT after showing up just after the release of the report.
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