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Saturday, January 20, 2018

US crude oil imports and stocks up – EIA

US crude oil imports in week 42 jumped by 0.5 mbd to 10.0 mbd compared to the previous week, the highest weekly amount of imports since mid May 2001. Imports so far 2002 are still 3% lower than for the same period in 2001. Domestic oil production so far in 2002 is marginally above the average for the same period in 2001. The growing imports also mean that the commercial crude oil stocks have been increasing since the beginning of October. Strategic stocks have been increasing over the last year and are some 8.0% above the level a year ago and 5.9% above the average level for the last two years. This means that the total crude oil stocks are also 3.1% above the level of a year ago and 1.5% above the average level for the last two years.

The trend can be viewed on INTERTANKO’s web site at: http://www.intertanko.com/research/issue.asp?topic_id=163