Weekly Oil Statistics

September 23, 2020
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EIA reported a draw of -1639 MBbls in U.S. crude-oil inventories for the week ending 9/18/2020. This was smaller than the average estimate of -2471 MBbls as reported by Bloomberg.

Prices were up five minutes following the announcement, to $40.06, from $39.98 just before 9:30am.

Inventories for the US are now at a surplus of 77.28 MBbls to last year and a surplus of 58.39 MBbls to the five-year average.

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