Crude Rebounds In EIA, API

Published March 29th, 2001 - 02:00 GMT

Weekly reports from the American Petroleum Institute (API) and the Energy Information Administration (EIA), the statistical arm of the U.S.  

 

Department of Energy (DOE), released on March 27th and 28th found huge gains in crude inventories for the week ended March 23rd.  

 

The API reported crude stocks climbing 8.9 million barrels to 302.6 million barrels, an increase of 13.1 million barrels over the same period a year ago. Gasoline stocks fell 1.6 million barrels to 196.5 million barrels.  

 

Distillate stocks dipped 447,000 barrels to 110.4 million barrels, an increase of 8.3 million barrels over last year, while heating oil inventories lost 1.4 million barrels to 39.9 million barrels. 

 

The EIA reported crude stocks gaining 11.2 million barrels to 301.5 million barrels, an increase of 7 million barrels over the same period a year ago. Gasoline stocks plunged 1.9 million barrels to 196.3 million barrels, down 7.2 million barrels from 2000.  

 

Distillates dropped 2.8 million barrels to 107.9 million barrels, an increase of 9.2 million barrels over last year, while heating oil stocks shed 1.6 million barrels to 39.3 million barrels, up 1.7 million barrels from a year ago.  

 

The EIA also reported refinery utilization for the week of 90.3 percent, down from 92.2 percent the previous week. 

(oilnavigator)  

 

© 2001 Mena Report (www.menareport.com)

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