Weekly Oil Statistics

March 17, 2021
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EIA reported a build of 2396 MBbls in U.S. crude-oil inventories for the week ending 3/12/2021. This was larger than the average estimate of 2076 MBbls as reported by Bloomberg.

Prices were down five minutes following the announcement, to $64.27, from $64.38 just before 9:30am.

Inventories for the US are now at a surplus of 49.016 MBbls to last year and a surplus of 30.38 MBbls to the five-year average.

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