Weekly Oil Statistics

February 24, 2021
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EIA reported a build of 1285 MBbls in U.S. crude-oil inventories for the week ending 2/19/2021. This was smaller than the average estimate of -6742 MBbls as reported by Bloomberg.

Prices were up five minutes following the announcement, to $63.08, from $62.75 just before 9:30am.

Inventories for the US are now at a surplus of 20.159 MBbls to last year and a surplus of 0.47 MBbls to the five-year average.

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