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Crude Oil Report Crude Oil Report: Inventory Deficit Grows, But Brent May Fall To $100 On Eurozone Crisis
Crude Oil Report Crude Oil Report: Inventory Deficit Grows, But Brent May Fall To $100 On Eurozone Crisis- Written by Sumit Roy |
- November 23, 2011
Crude Oil Report: Inventory Deficit Grows, But Brent May Fall To $100 On Eurozone Crisis
- Details
Page 2 of 7
Crude oil inventories plunged by 6.2 mmbbl, against than the 5-year average of a 1.7 mmbbl build. In turn, crude oil inventories fell below the 5-year average for the first time since Sept. 2008. The deficit now stands at 3.4 mmbbl, or 1 percent.
Regionally, inventories outside the Midwest fell, while those inside the region were essentially unchanged.
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