Total US crude inventories, including the Strategic Petroleum Reserve, have fallen to an equivalent of 43 days of consumption, the lowest level in 45 years, according to data. Refineries are operating at near full capacity and have deferred maintenance to maximize profit.
This latest data shows US crude stockpiles at 43 days of consumption, the lowest level in 45 years, as refineries run at full capacity. The Zioneer has previously reported on the steady decline in US crude inventories, including the total falling to 726 million barrels in July and the Strategic Petroleum Reserve dropping below 320 million barrels, the lowest since 1983. The ongoing drawdown reflects sustained demand and limited supply additions, exacerbated by reduced maintenance at refineries seeking to maximize output.
3 developments
Source and signal
- Internal intake