:: Reports --- ID :: 14669
API showed larger than expected drop in crude oil inventories
staggering crude oil draw

By Srinivas Chowdary Sunkara // petrobazaar // 09-01-18

API WEEKLY STATISTICAL BULLETIN FOR THE WEEK ENDING 05-01-18

As per the latest U.S weekly crude stock report of American Petroleum Institute, Crude stocks dropped further by 11.19 million barrels in the week ending January 5, compared to estimated 3.0 million barrel decline.API data showed a rise of 4.3 million barrels in gasoline stockpiles, while inventories of distillates climbed by 4.7 million barrels. Analysts polled by S&P Global Platts expect the EIA to report a decline of 3.5 million barrels for crude inventories. They also forecast a rise of 2.3 million barrels for gasoline and an increase of 2.1 million barrels for distillate supplies.