Sentences with phrase «oil inventories»

This week's crude oil inventory build takes away from the previous streak of draws that saw almost 50 million barrels removed from inventory, according to API data.

The first task is to look for the date of release of oil inventories in the economic calendar.

This flooded global oil inventories and sent prices as low as $ 30 a barrel which was a disaster for all concerned.

This week's crude oil inventory draw should renew investor faith that the previous lengthy streak of draws — interrupted by a few weeks of builds — is still ongoing.

Oil prices are falling because crude oil inventories were in good shape heading into the hurricane and because crude oil production will be less affected by the storm.

U.S. oil inventories declined for 10 straight weeks as of January 24, the longest stretch ever recorded, before jumping again in the week ended January 31.

Crude oil prices inched up after the EIA reported a smaller - than - expected build of 5.9 million barrels in crude oil inventories for the week to September 8, after a 4.6 - million - barrel build in the prior week due to the Gulf Coast refinery shutdowns.

The chart above shows that the U.S. Energy Information Administration estimates that commercial crude oil inventories at OECD countries could hit their lowest in two years by the end of 2017, coinciding with a sharp drop in U.S. inventories.

Traders look ahead to a fresh batch of crude oil inventory data from the American Petroleum Institute (API) due Tuesday after data last week showed an unexpected build in U.S. crude stockpiles.

U.S. crude oil inventories rose by 2.2 million barrels in the week to April 20, to 429.74 million barrels.

But, in fact, available data on oil inventories shows notable declines over the past year.»

An unexpected rise in the API US Oil Inventory Report pushed oil lower (WTI down to $ 67.58) and weighed on stocks.

According to a report, OECD oil inventories for the first time in 3.5 years have fallen below normal because of a massive inventory draw of 46 million barrels in February which is six times the normal draw rate.

Investors will scour weekly oil inventory statistics from the Energy Information Administration later on Thursday after industry data showed a rise of 2.1 million barrels in crude stockpiles last week.

«Over the past several weeks, we've seen oil inventories decline and we've seen U.S. production decline.

The agency also reported that commercial oil inventories in industrialized nations rose in January for the first time in seven months.

Although the oil market has been improving, OPEC still has work to do to bring global oil inventories back to their five - year average — the metric that OPEC has vowed to achieve Continue Reading

According to the U.S. Energy Information Administration, «U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years.»

Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain platform for sharing oil inventories in the United Arab Emirates (UAE).

Genscape, which tracks oil inventories, reported a near 2.4 million - barrel build last week in Cushing, the Oklahoma delivery point for U.S. crude futures, a market source said.

In spite of analyst warnings, prices remained stable after the third weekly crude oil inventory increase, suggesting that market players have already factored in the prolonged consequences of Hurricane Harvey and Irma on oil dynamics in the United States.

Crude oil prices are consolidating as the global economic forecasts are driving demand expectations higher as U.S. oil inventories continue to plunge.

DeHaan says that continued low gas prices in the U.S. can be attributed mostly to an increase in the amount of crude oil produced in the U.S., with American oil inventories up 27 percent compared to this time last year.

After trading in a range throughout the midsession, upside activity picked - up following a better - than - expected oil inventory report sent oil stocks higher.

Now the Saudis seem to believe that with oil inventories approaching average and a solid alliance with Moscow, they can let oil prices rise and micromanage the markets at any time.

Rising US crude oil inventories sent prices tumbling this week.

The result: In March, oil inventories finally fell, reversing a yearlong trend.

The Organization of the Petroleum Exporting Countries also said oil inventories across the most industrialized countries rose in January for the first time in eight months, a sign the impact of its output cuts may be waning.

U.S. crude oil inventories rose by 2.2 million barrels in the week to April 20, to 429.74 million barrels.

CNBC's Jackie DeAngelis reports on expectation for oil inventory ahead of Department of Energy report.

This could reinforce any effect EIA's oil inventory figures would have on prices but to what extent, remains uncertain.

Gulf Coast distillate fuel oil inventories have fallen for four consecutive weeks, according to EIA data.

Yet, they ignored a report about global oil inventory tightening.

It also found oil inventories are beginning to top off in OECD countries, with growth coming in at its slowest rate since the final quarter of 2014.

Joint cuts of 1.8 million b / d have reduced OECD oil inventories towards their five - year average and cleared most of the global glut, with the Saudis cutting even deeper than agreed in an attempt to lift prices well above US$ 80 before selling off shares in Aramco.

By mid-2014, increased U.S. production combined with other energy production began to exceed global demand, leading to excess oil inventory.

On Wednesday, Saudi Energy Minister Khalid al - Falih said — after meeting with his Russian counterpart Alexander Novak — that OPEC and non-OPEC producers are committed to do «whatever it takes» to draw the global crude oil inventories down to their five - year average.

OPEC and Russia are already achieving what they intended to achieve with the deal — a decline in crude oil inventory levels around the globe, the minister said.

Growing doubts about the effectiveness of the OPEC - led cuts and a series of increases in US oil inventories culminated in a 10 % drop in crude prices in a single week, though prices later steadied.

This increase follows the reduction in OPEC's oil production quotas, effective from last November, and low oil inventories in the US.

The US commercial oil inventories hiked by 6.2 million barrels to 436.7 million barrels in the week ended 27 April.

CNBC's Jackie DeAngelis reports on the weekly EIA status report showing crude oil inventories up at 3.9 million barrels and gasoline inventories down at 4.5 million barrels.

Natural gas and propane inventories are near or at record highs, while heating oil inventories are at multi-year highs, and EIA expects them to be higher at the end of October.

The U.S. Energy Information Administration report on oil inventories is due on Wednesday at 10:30 a.m. EDT.

OPEC's goal is to bring crude oil inventories back to average levels, not just products.

However, crude oil inventories remain high, with current storage levels near 500 million bbl, which is approximately 9 million bbl ahead of last year.