Oil Inventories Including SPR Continue to Fall – ValueWalk Premium
Oil, Price

Oil Inventories Including SPR Continue to Fall

Every chart says the same thing…..oil prices are going higher….

Q1 2022 hedge fund letters, conferences and more

Oil, Price

“Davidson” submits:

  • US Crude Prod unchanged at 11.9mil BBL/Day, US Total Crude Inv declined 5.2mil BBL(working inv rose 2mil BBL & SPR declined 7.3mil BBL), US Crude Imports rose 1.7mil BBL/Day(11.9mil BBL/Week, Fudge factor of -0.184mil BBL/Day(1.29mil BBL/Week)

  • All Refined Prod Inv fell with US Gasoline Inv declining 0.7mil BBL as even as US Exports of Refined Products declined. Some rise I Jet Fuel production vs a decline in Diesel Fuel production

US continues to import crude for Domestic consumption and refined product exports.  Refining rose a little but it appears SPR releases and imports are keeping domestic crude production flat. Government policies continue to weigh heavily on domestic fossil fuel industry.

  


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