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Author Topic: Crude inventories decline as year-end approaches, refined products soar: EIA Back to Topics
PD

Moderator
Message Posted: Dec 11, 2013 10:35:46 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 10.6 million barrels to a total of 375.2 million barrels. At 375.2 million barrels, inventories are 2.6 million barrels above last year (0.7%) and are above the upper part of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories increased by 6.7 million barrels to 219.1 million barrels. At 219.1 million barrels, inventories are up 2.0 million barrels, or 0.9% higher than one year ago. Here's how individual regions and their gasoline inventory fared last week: East...

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REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 19, 2013 12:03:35 AM

of course, prices are not dropping now that the next round of holidays is knocking on the door.
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 18, 2013 5:53:27 AM

fed: probably nothing other than keep driving like there's no end to oil?
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fedupp
Champion Author Cleveland

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Message Posted: Dec 13, 2013 10:13:29 AM

I am wondering what people are going to do when they finally realize that North American crude oil is just way too expensive to get out of the ground-and will never provide us with the fuel prices needed for prosperity--Alaska oil is way too expensive-let alone frack,shale and tar.Cheap oil comes from the middle east and Venezuela-and just about nowhere else.
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leo3614
Sophomore Author Arizona

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Message Posted: Dec 12, 2013 1:17:18 PM

means almost nothing at gas pump
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Jeff4U
Champion Author Atlanta

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Message Posted: Dec 12, 2013 12:33:38 PM

Happens every December.
The IRS charges tax on your inventory, so naturally you want to reduce it as much as possible at end-of-year.
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randyragon
Veteran Author Gary

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Message Posted: Dec 12, 2013 8:16:27 AM

Crude went down 10.6 but gas and distillates went up 11.2. And when you process crude you don't get a one to one equivalent for output. I was told it is close to 80%. So realistically there was a 2.7 million gallon increase in supply that hasn't gone to the consumers yet. They want the crude down as much as possible for the year end inventory that they have to pay taxes on.
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moenkopi23
Champion Author Chicago

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Message Posted: Dec 12, 2013 6:12:43 AM

Prices should be dropping!
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ShineRunner
Champion Author North Carolina

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Message Posted: Dec 12, 2013 6:03:27 AM

We need more refineries and less EPA regulation. Reasonable regulation is important but not the extent that it kills our economy!
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05FLHRI
Champion Author Ohio

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Message Posted: Dec 12, 2013 5:59:38 AM

Ok
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FrankTA2
Champion Author New York

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Message Posted: Dec 12, 2013 5:59:12 AM

Why are prices at the pumps still creeping upward?
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luckyl
All-Star Author Halifax

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Message Posted: Dec 12, 2013 5:58:30 AM

No surprise.
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NJColt
Champion Author New Jersey

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Message Posted: Dec 12, 2013 5:58:12 AM

So what.
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VetteFan
Champion Author Indiana

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Message Posted: Dec 12, 2013 5:58:06 AM

We're asking speculators to raise prices as crude inventories fall. Back to conservation.
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SkooterG
Champion Author Phoenix

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Message Posted: Dec 12, 2013 5:57:33 AM

So why are prices going up?
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jflabbe96
Champion Author Pennsylvania

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Message Posted: Dec 12, 2013 5:56:56 AM

Sadly these reports don't have anything to do with the price of gas anymore.
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61chev
Champion Author Ontario

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Message Posted: Dec 12, 2013 5:56:52 AM

OK
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smqua
Champion Author Cleveland

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Message Posted: Dec 12, 2013 5:55:40 AM

Yawn
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valby
Champion Author Massachusetts

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Message Posted: Dec 12, 2013 5:55:03 AM

Ok
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ldb002
Veteran Author Arkansas

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Message Posted: Dec 12, 2013 5:54:49 AM

ok
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LeeFree
Champion Author Pittsburgh

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Message Posted: Dec 12, 2013 5:50:52 AM

Doesn't seem to have any bearing on pump prices.
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ponyNJ
Champion Author New Jersey

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Message Posted: Dec 12, 2013 5:50:19 AM

No surprize. Oil companies refined some of their inventory.
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epf
Champion Author Grand Rapids

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Message Posted: Dec 12, 2013 5:49:18 AM

Like a yo-yo.
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dfp609
Champion Author Cincinnati

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Message Posted: Dec 12, 2013 5:48:47 AM

Is this going to validate year-end gas price increases?
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jppezz
Champion Author New Mexico

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Message Posted: Dec 12, 2013 5:48:24 AM

We need more refineries.
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mohrorless
Champion Author New York

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Message Posted: Dec 12, 2013 5:47:50 AM

intentional reduction of inventory makes for planned price increases soon...
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Petrock
Champion Author Lexington

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Message Posted: Dec 12, 2013 5:47:33 AM

If they can run this much crude through the refineries in a week for some year-end balance sheet reason, it's pretty hard to believe the story that limits on refining is the reason for high prices.
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HelenT
Champion Author Buffalo

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Message Posted: Dec 12, 2013 5:47:31 AM

old
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Lairre
Champion Author Sacramento

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Message Posted: Dec 12, 2013 5:46:46 AM

Old
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gasandgoAL
Champion Author Alabama

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Message Posted: Dec 12, 2013 5:46:06 AM

usually means higher prices
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jci25946
Champion Author Tampa

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Message Posted: Dec 12, 2013 5:44:01 AM

The law of supply and demand is broken..... gas prices????
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GLM4205
Champion Author Toledo

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Message Posted: Dec 12, 2013 5:43:56 AM

Just another tactic to create a reason to jack up the price of gas..............
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kirzon484
Champion Author Atlanta

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Message Posted: Dec 12, 2013 5:41:07 AM

and this means what
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hamdriver
Champion Author Lansing

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Message Posted: Dec 12, 2013 5:40:45 AM

Crazy
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JPillo
Sophomore Author Toronto

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Message Posted: Dec 12, 2013 5:40:44 AM

I guess we'll see prices increase again
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nb52
Champion Author Grand Rapids

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Message Posted: Dec 12, 2013 5:39:03 AM

Overpaid EIA bureaucrats.
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fillerupyeoww
Champion Author Columbus

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Message Posted: Dec 12, 2013 5:36:40 AM

It's the heating season.
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jacob5066
Champion Author College Station

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Message Posted: Dec 12, 2013 5:35:32 AM

Of course
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bradbeebe52
Champion Author Wilmington

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Message Posted: Dec 12, 2013 5:34:28 AM

Like the man said...Bah! Humbug!
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gabisgram
Champion Author Michigan

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Message Posted: Dec 12, 2013 5:34:24 AM

Can't have gas prices going too low now can we?
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SpruceGuse2
Champion Author Michigan

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Message Posted: Dec 12, 2013 5:30:57 AM

Just another tactic to create a reason to jack up the price of gas..............
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sappie
Champion Author Massachusetts

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Message Posted: Dec 12, 2013 5:30:53 AM

ok.drop the price.
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frankkool
Champion Author Akron

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Message Posted: Dec 12, 2013 5:28:52 AM

Holidays are coming, so gas prices will be increasing shortly. Fill those can cans up.
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roger1315
Champion Author North Carolina

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Message Posted: Dec 12, 2013 5:27:27 AM

Market manipulation?
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metrojeep
Champion Author Fort Worth

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Message Posted: Dec 12, 2013 5:27:23 AM

More numbers
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studebaker1940
Champion Author Tampa

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Message Posted: Dec 12, 2013 5:25:12 AM

See previous article
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AvantiMick
Champion Author Indiana

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Message Posted: Dec 12, 2013 5:22:50 AM

Of course! It's almost travel time in America, time to jab consumers in the ass with high gas prices!!
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Bxman
All-Star Author Richmond

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Message Posted: Dec 12, 2013 5:22:10 AM

Market manipulation?
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74celica
Champion Author Columbus

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Message Posted: Dec 12, 2013 5:19:48 AM

and prices still high
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toolman3md
Champion Author Maryland

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Message Posted: Dec 12, 2013 5:18:13 AM

Old
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Settjec
Champion Author Little Rock

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Message Posted: Dec 12, 2013 5:17:04 AM

OLD
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