Global oil supply and demand forecasts for 2015 have changed significantly recently, but these changes have largely cancelled each other out: the outlook is still one of a market roughly in balance. However, this ignores the tectonic shifts taking place under the surface. US output growth is decelerating. If futures markets pre-empt this, as they did in February, they risk reversing it, which could produce another drop in prices, as Ross McCracken, managing editor of Platts Energy Economist, explains.
Posts Tagged ‘EIA’
By Ross McCracken | February 27, 2015 12:01 AM Comments (0)
By News Desk | February 25, 2015 04:49 PM Comments (0)
US refineries scaled back for the week ended February 20 as part of the ongoing maintenance season, contributing to US commercial crude oil stocks building to a record 434.1 million barrels, according to the latest data from the US Energy Information Administration.
The stocks increased 8.4 million barrels, more than double the amount expected by analysts surveyed by Platts on Monday. Production also rose, and more details of the latest EIA data can be found in the Platts analysis here.
By News Desk | February 19, 2015 04:32 PM Comments (2)
After rising yet again, US crude oil stocks totaled 425.6 million barrels for the week ended February 13, according to the most recent data from the US Energy Information Administration. The release of the data was delayed due to Presidents Day.
By News Desk | February 11, 2015 04:34 PM Comments (0)
For the third week in a row, US crude oil stocks as reported by the US Energy Information Administration set a record. Stocks totaled 417.9 million barrels for the week ended February 6, according to the latest data, up 4.9 million barrels from the previous week and surpassing analysts’ expectations. The rise also comes despite refineries running at higher rates than usual for this time of the year. To read the full Platts analysis of the latest data, click here.
By News Desk | January 22, 2015 04:20 PM Comments (0)
US commercial crude stocks jumped 10.1 million barrels during the week ended January 16, according to the latest data from the US Energy Information Administration. The inventory, at 397.9 million barrels, was 16% above the EIA five-year average for the same reporting week. Read a thorough analysis of the EIA data here.
By News Desk | January 14, 2015 04:10 PM Comments (0)
The latest data from the US Energy Information Administration shows US commercial crude oil stocks were up 5.4 million barrels to 387.8 million barrels for the week ended January 9. Cushing stocks have risen 10 million barrels during the last six weeks, possibly driven by traders storing crude oil there even as Cushing’s role has mostly transformed from a storage hub to a transit hub. Read the full Platts analysis here.
By News Desk | December 17, 2014 04:05 PM Comments (0)
US commercial crude oil stocks were 847,000 barrels lower for the week ended December 12, helped along by a drop in imports, according to data released Wednesday from the US Energy Information Administration.
It represented a smaller-than-expected draw, but oil futures jumped regardless on a wave of short covering. Read more in the Platts analysis here.
By Brian Scheid | December 11, 2014 11:25 AM Comments (0)
Want to dazzle party guests this holiday season with a data-backed argument that the US oil boom may have peaked? Well, the US Energy Information Administration has a report you should probably read.
Want to shut up that obnoxious blowhard who keeps using EIA data to support his argument that the glory days of US oil may have gone by? Want some government data of your own to defend your claim that we have yet to see the peak of US oil production?
I have good news: You can use the same report.
By News Desk | December 11, 2014 10:35 AM Comments (0)
Soaring crude oil inputs at US refineries helped to push combined US gasoline and distillate stocks 13.78 million barrels higher the week ended December 5, US Energy Information Administration (EIA) oil data showed Wednesday. Despite the higher demand from refiners, the buildup in US product stocks weighed on the oil complex. Read the full Platts analysis of the EIA data here.
By News Desk | December 3, 2014 03:56 PM Comments (0)
The biggest crude oil draw was on the US West Coast again this week. Analysts tend to downplay the significance of USWC stockpile movements because the region is mostly disconnected from Cushing, Oklahoma. You can read Platts’ analysis of the Energy Information Administration figures here.