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Author Topic: Two week decline in crude oil inventories: over 20 million barrels, says EIA Back to Topics
PD
Moderator
Message Posted: Jul 10, 2013 10:37:20 AM

The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 9.9 million barrels to a total of 373.9 million barrels. At 373.9 million barrels, inventories are 4.3 million barrels below last year (1.1%) and are near the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 2.6 million barrels to 221.0 million barrels. At 221.0 million barrels, inventories are up 13.3 million barrels, or 6.4% more than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-0.4mb); Midwest...

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REPLIES (newest first) Post a Reply
Retired-Coastie
Champion Author Arkansas

Posts:2,387
Points:784,675
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Message Posted: Sep 2, 2013 10:11:56 AM

And yet the price at the pump continues to rise! Why? Speculators have greater influence than supply and demand!
jarvisd39
All-Star Author El Paso

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Message Posted: Aug 7, 2013 11:42:15 PM

It's well, well
honda0105
Champion Author Tallahassee

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Message Posted: Jul 17, 2013 12:04:15 AM

yawn...
driveonby1
Champion Author Toledo

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Message Posted: Jul 16, 2013 10:24:48 AM

Well, well.
honda0105
Champion Author Tallahassee

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Message Posted: Jul 16, 2013 5:34:14 AM

too many refineries down, too much exports, Middle East about to explode.. what other excuses does Pig Oil have today?
Donatelo
Champion Author Dayton

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Message Posted: Jul 15, 2013 11:51:11 AM

we ship away too much of our oil. it makes no sense.
Clayton2000
Champion Author South Carolina

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Message Posted: Jul 15, 2013 6:26:33 AM

OK
honda0105
Champion Author Tallahassee

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Message Posted: Jul 15, 2013 5:46:14 AM

and specutraitors get the jitters b/c the Middle East sneezed.
Dphillips720
Champion Author Michigan

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Message Posted: Jul 13, 2013 1:22:40 AM

Ok
Dphillips720
Champion Author Michigan

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Message Posted: Jul 13, 2013 1:22:09 AM

Bs
Donatelo
Champion Author Dayton

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Message Posted: Jul 13, 2013 12:24:55 AM

still seems like a lot of inventory.
Pete12
Champion Author Albany

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Message Posted: Jul 12, 2013 6:41:17 PM

These past few days in the oil and gas futures have been a joke.
sydb7
Champion Author Atlanta

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Message Posted: Jul 11, 2013 1:26:30 PM

Why bother? Speculators have greater influence than supply and demand!
SmkyPlyr984
Veteran Author Connecticut

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Message Posted: Jul 11, 2013 10:46:14 AM

legalized crooks.....all they are ..this should send oil to 140
fedupp
Champion Author Cleveland

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Joined:May 2013
Message Posted: Jul 11, 2013 8:48:15 AM

Bush 41 took us to war and liberated Kuait(Kuait is LOADED with high quality easily accessable oil)Liberated??? dont you think maybe we could have made A deal to get some cheap oil?Oh wait I almost forgot Bush 41 is A Texas oil man(the last thing an oil man wants is cheap oil)and they told us on the news that Kuait "did not want us on their soil"thats convienient. Bush 43 took us to war and liberated Iraq?liberated???dont you think we could have made A deal to get some cheap oil?(Iraq they now say has more oil than anywhere on earth-and its real easy to get)Oh wait I almost forgot Bush 43 is A Texas oil man,he dont want cheap oil(im not even going to get into Cheney that would be over kill)So now the oil companies have half the country convinced that somehow our bottom of the barrel resources can compete with true oil rich nations?????????empty frack wells,shale,tundra oil,open ocean oil can compete with wells that shoot high quality oil 300 feet in the air FOR YEARS! Please tell me how I cant wait to hear this!----it costs on average $80.00 per barrel before any profit is made to get American oil out of the ground.How much do you think is costs to get A barrel of oil out of the ground in Iraq?Kuait?Venezuela?ect.ect.ect.this is nothing more than A con game and we the American public have been getting screwed for years.Until we demand A source of affordable oil the price per barrel will be $100.00brl or more from now on.China is not as stupid as us they are developing Iraqs oil along with france(look it up if you dont belive it)
DSL987
Rookie Author San Antonio

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Message Posted: Jul 11, 2013 8:43:48 AM

Ticobird: Now that the bottleneck in Cushing has been relieved with more pipeline capacity, those supplies can now flow to the refineries. The side effect though is that now it can flow freely the price is no longer discounted as much.
Ticobird
Champion Author Huntsville

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Message Posted: Jul 11, 2013 6:18:54 AM

Additional information as to the cause of increased or decreased crude oil and refined supply inventories would be welcomed by this GasBuddy. I do not require a definitive reason but consumer buying, refinery output and crude oil deliveries to refineries would be a good place to start looking for extra useful information.
Redink
Champion Author Indianapolis

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Message Posted: Jul 11, 2013 6:06:06 AM

Gas here up .24 in a day, not the usual increase, but close.
djp071158
Champion Author Detroit

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Message Posted: Jul 11, 2013 6:03:41 AM

And gas is up 30 cents a gallon.
dc1552
Champion Author Virginia Beach

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Message Posted: Jul 11, 2013 6:00:31 AM

What excuse can we use this week to get the price up?
Bearcat500
Champion Author Cincinnati

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Message Posted: Jul 11, 2013 5:59:36 AM

Gee! Let's manufacture a crisis so we can raise prices and make a lot of money.
SteelPenny
Champion Author Dallas

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Message Posted: Jul 11, 2013 5:59:07 AM

You can't drive if you don't have a job. Thank you O'care for making all those part-time jobs.
Ferdman17
Champion Author Albany

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Message Posted: Jul 11, 2013 5:57:44 AM

Should be any day now that the speculators will start getting the price of gas up at the pumps
Brucevanf
Champion Author New Brunswick

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Message Posted: Jul 11, 2013 5:57:12 AM

More greed
LeeFree
Champion Author Pittsburgh

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Message Posted: Jul 11, 2013 5:56:49 AM

Get ready to grab your ankles at the next fill-up.
lindact
Champion Author New Haven

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Message Posted: Jul 11, 2013 5:55:28 AM

All manipulation...
Stevedog
Champion Author Michigan

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Message Posted: Jul 11, 2013 5:53:31 AM

must be a sign that the end is near
FocusGuy
Champion Author Seattle

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Message Posted: Jul 11, 2013 5:53:18 AM

Going up
pfone1847
Champion Author Illinois

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Message Posted: Jul 11, 2013 5:52:56 AM

Prices have been going back up everywhere
jeff95519
Champion Author California

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Message Posted: Jul 11, 2013 5:52:36 AM

that'll change
aburns20
Champion Author Virginia Beach

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Message Posted: Jul 11, 2013 5:52:00 AM

Prices shot up here in Virginia as well.
metrojeep
Champion Author Fort Worth

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Message Posted: Jul 11, 2013 5:51:25 AM

And the prices went up here.
DrCashFlow
Champion Author Massachusetts

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Message Posted: Jul 11, 2013 5:51:25 AM

Some predicting pump prices will rise 20 cents or more over next couple of weeks
WaWanderer
Champion Author Washington

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Message Posted: Jul 11, 2013 5:50:03 AM

We need more information to understand the problem.
AvantiMick
Champion Author Indiana

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Message Posted: Jul 11, 2013 5:49:48 AM

Any excuse to raise gas prices!!
oas
Champion Author Maryland

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Message Posted: Jul 11, 2013 5:48:39 AM

and the impact on gas prices is?
bobzilla11
Champion Author Indiana

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Message Posted: Jul 11, 2013 5:48:21 AM

looks like a lot of it is exported
luvmyburgi
Champion Author Ohio

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Message Posted: Jul 11, 2013 5:47:01 AM

You cannot believe anything anymore!
dave364
Champion Author Lansing

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Message Posted: Jul 11, 2013 5:45:23 AM

drill
neptune2008
Champion Author Michigan

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Message Posted: Jul 11, 2013 5:45:00 AM

because the price increases....do they not get this?
Cebo
Champion Author Maryland

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Message Posted: Jul 11, 2013 5:44:55 AM

Okay
ovillaone
Champion Author Dallas

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Message Posted: Jul 11, 2013 5:44:45 AM

whatever
Rick52
Champion Author Milwaukee

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Message Posted: Jul 11, 2013 5:43:30 AM

This is just BS...They are blaming it on Egypt..
w4kh
Champion Author Tennessee

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Message Posted: Jul 11, 2013 5:41:50 AM

Funny how this week's 2.6% crude oil inventory reduction is a "decline" while last week's 1.7% reduction was "massive"... word choices tend to shape our expectations for prices at the pump: "massive" reduction sets up higher prices, whereas "decline" seems less likely to push prices higher...
NemoIL
Champion Author Illinois

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Message Posted: Jul 11, 2013 5:40:36 AM

They have to maintain the price.
epf
Champion Author Grand Rapids

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Message Posted: Jul 11, 2013 5:39:54 AM

Makes my head spin.
Lengas
Champion Author Gary

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Message Posted: Jul 11, 2013 5:39:22 AM

Big Oil MANIPULATION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
VMIJim
Champion Author Alabama

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Message Posted: Jul 11, 2013 5:37:36 AM

This should be no surprise to anyone as the Obama Administration has done nothing to control oil speculation/prices, reduce our dependence on foreign oil, or improve our economy. The bottom line is that Obama's sole agenda is to cater to his tree hugging, stimulus sucking, union dominated, ultra liberal major contributors. As a result, we continue to be screwed at the pump, with our utilities, & with our taxes. Nothing will change as long as Obama is in office & has control of the Senate. 2014 Elections are coming - stop this madness!!
TommyTraveler
Champion Author Cincinnati

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Message Posted: Jul 11, 2013 5:36:11 AM

This will be a good reason to raise gas prices for the greedy oil guys.
Skipper52
Champion Author Massachusetts

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Message Posted: Jul 11, 2013 5:35:52 AM

No big deal.
rbutterw
Champion Author Raleigh

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Message Posted: Jul 11, 2013 5:31:48 AM

Bump in da road
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