Weekly Oil Statistics

June 3, 2020October 4th, 2020
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EIA reported a draw of -2077 MBbls in U.S. crude-oil inventories for the week ending 5/29/2020. This was smaller than the average estimate of 3326 MBbls as reported by Bloomberg.

Prices were down five minutes following the announcement, to $36.64, from $36.79 just before 9:30am.

Inventories for the US are now at a surplus of 55.852 MBbls to last year and a surplus of 58.43 MBbls to the five-year average.

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