Petroleum Institute: US crude inventories rise 7.3 million barrels exceeded expectations

File Reuters

UNITED STATES (VOP TODAY NEWS) — US crude oil inventories rose more-than-expected last week, while gasoline stocks and distillates fell, the US Petroleum Institute said on Tuesday.

Crude stocks rose 7.3 million in the week to March, to 451.5 million barrels, compared with analysts’ forecasts for a 1.2 million barrel increase.

Crude inventories at the Kashkent delivery center in Oklahoma rose 1.1 million barrels, the institute said.

The Institute’s data showed that the refinery consumption rate rose 363 thousand barrels per day.

Gasoline inventories fell 391,000 barrels, compared to analysts’ forecasts in a Reuters poll of 2.1 million barrels.

Distillate stocks, including diesel and heating oil, fell 3.1 million barrels, compared to expectations for a 1.4 million barrel drop, according to the institute’s data.

US crude imports last week rose by 801,000 bpd to 6.9 million bpd.

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.


Support The VOP from as little as $1 – it only takes a minute. Thank you.

We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.

[give_form id=”42307″]

VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Contact us: [email protected]

Stay connected with VOP Today News on Twitter – VOP Today News on Facebook, also with our online services and never lost the breaking news stories happening around the world.