Inventories point towards a crude build

Brent prompt future contract slipped back to 65.3 $/b amid a significantly more bearish API release than expected. US crude stocks grew by close to 1 mb, as refining runs collapsed by 2 mb/d. Only distillate stocks drew at a rapid pace. US crude oil output is restarting at a faster pace than refining, as most producers and pipeline operators in the Permian are back to normal conditions. Russian crude and condensate output reached 10.09 mb/d in February so far, down from about 10.2 mb/d in January.  

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

January 31, 2022

Can the renewed optimism be confirmed?

The US equity markets ended the week with a bang, with the Nasdaq up 3.1%. Long-term rates are slowly rising (10-year US at 1.79%) and…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!