US crude inventories depleting rapidly

Despite the rapid depletion of US commercial crude stocks, crude futures remained range-bound on early Wednesday, at 74.9 $/b at the prompt. US crude inventories may have dipped by 8.1 mb, while US product inventories built at a more marginal pace. Globally, crude stocks dipped last week by a sizable amount, especially in the Middle East, according to Kpler. The OPEC+ technical committee meeting was delayed to Thursday, the day of the OPEC+ ministerial meeting, as some disagreements emerged within the OPEC+ group.  

us weekly stock change, mb
Share this news :

You might also read :

July 16, 2021

European prices down again

Prices weakened again yesterday in most European gas markets, pressured by lower demand and technical selling (on the back of lower oil prices). On the pipeline…
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?