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***Top stories from the last 15 days
Crude Oil Report Crude Oil Report: Iranian Output Falls To 20-Yr Low, But OPEC Output Surges Thanks To Iraq, Libya & Saudi Arabia - Written by Sumit Roy |
- May 02, 2012
Crude Oil Report: Iranian Output Falls To 20-Yr Low, But OPEC Output Surges Thanks To Iraq, Libya & Saudi Arabia
- Details
Crude oil inventories rose by 2.8 mmbbl, against the five-year average of a 3.6 mmbbl increase. In turn, the surplus in the crude category fell to 22 mmbbl, or 6.2 percent.
Regionally, inventories inside and outside the Midwest rose.
Gasoline inventories fell by 2 mmbbl against the five-year average of a 0.2 mmbbl increase. The surplus in the category fell to 0.3 mmbbl, or 0.1 percent. Distillate inventories fell by 1.9 mmbbl against the five-year average of a 0.6 mmbbl increase. In turn, the distillate deficit now stands at 10 mmbbl, or 7.2 percent.
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