The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Americans are doing everything they can to drain oil inventories

Pubdate:2017-06-02 09:55 Source:liyanping Click:

HOUSTON (Bloomberg) -- There’s a loud sucking sound coming from the depths of oil storage tanks across the United States.

The combined effort of American drivers, gung-ho refiners and exporters are starting to reduce the nation’s oil stockpiles, an outcome that the Organization of Petroleum Exporting Countries has been hoping to see since it agreed to cut production in November. Last week total U.S. crude exports, gross refinery inputs and demand for gasoline all pushed to records in weekly preliminary data released Thursday by the U.S. Energy Information Administration.

“Refinery runs are ridiculous. I posted a meme where it’s the line from Top Gun,” said Mason Hamilton, an EIA analyst by phone from Washington, D.C. “‘I feel the need to run the refinery full out.’ Maybe U.S. refiners were inspired by last week’s Top Gun sequel announcement.”

Crude inventories have now dropped below last year’s high, and OPEC vowed last week to extend cuts to production through March to balance the global market. American refiners processed a gross oil total of 17.7 MMbpd, even as the profit to turn crude into gasoline hovers near the five-year seasonal low at about $18.91/bbl, based on New York Mercantile Exchange futures data.

When it comes to American drivers’ revived thirst for burning gasoline, the economics are a lot less complex. A typical 50-cent surge in springtime retail gasoline prices didn’t happen this year, according to data collected by AAA, the nation’s largest motorist group. That prompted Americans to U-turn their spending habits after finalized EIA data released Wednesday reflected first-quarter consumption slipped 0.4% from a year earlier.

The past two years had “exceptionally strong” demand growth, said Paul Cheng, an equity research analyst at Barclays in New York. “We think we should be growing at 0.4%-0.8% this year,” he said by email. Gasoline demand last week climbed to a record 9.822 MMbpd, EIA data show.

As for the crude that remains in stock after U.S. refiners go gangbusters this summer? It’s seen plenty of demand, particularly from Asian buyers, who are ramping up purchases of the light, sweet crude that comes from U.S. shale formations. Oil exports totaled 1.3 MMbpd last week, the most in EIA data begun in 1993. Even off-spec cargoes can be used for blending or refinery testing, Hamilton said.

“For now, U.S. crude oil exports are something that everyone’s keeping an eye on,” he said. “We need to sit back and watch the show before we can understand it.”

 

主站蜘蛛池模板: 高贵的你韩剧免费观看国语版| 亚洲偷偷自拍高清| 亚洲日韩国产成网在线观看| a在线观看免费| 老头天天吃我奶躁我的视频| 樱花动漫在线观看免费版| 大香伊蕉国产av| 人人妻人人添人人爽日韩欧美| jizzjizz国产精品久久| 美女视频黄频a免费| 成人午夜视频精品一区| 午夜不卡av免费| 中文字幕第30页| 美女扒开内裤羞羞网站| 日本大片免aaa费观看视频| 国产免费福利片| 丰满多毛的陰户视频| 精品日韩在线视频| 女性特黄一级毛片| 亚洲精品在线网站| AAAAA级少妇高潮大片免费看| 狠狠躁天天躁无码中文字幕| 国内自产少妇自拍区免费| 亚洲人成图片小说网站| 黄色视频在线免费观看| 日本一本二本免费播放视频| 国产小情侣自拍| 久操视频免费观看| 青春禁区视频在线观看8下载| 无码免费一区二区三区免费播放| 午夜电影免费观看| 99re在线观看| 最近中文国语字幕在线播放视频| 国产亚洲精品自在久久| 一级做一级爱a做片性视频视频| 狠狠色丁香久久婷婷综合| 国产精品国产三级国产普通话a | 免费国产成人手机在线观看| 中国一级特黄大片毛片| 羞羞视频免费网站含羞草| 女人18与19毛片免费|