The United States has got a lot of crude oil on its hands right now. According to data released by the US Energy Information Administration (EIA) overnight, stockpiles swelled by a further 4.95 million barrels to 533.1 million barrels. That was near double the 2.8 million inventory build expected, and left stockpiles at the highest level on record. A lot of crude, not only in absolute levels, but also based on current consumption levels. This chart from the Commonwealth Bank underlines that last...
The United States has got a lot of crude oil on its hands right now. According to data released by the US Energy Information Administration (EIA) overnight, stockpiles swelled by a further 4.95 million barrels to 533.1 million barrels. That was near double the 2.8 million inventory build expected, and left stockpiles at the highest level on record. A lot of crude, not only in absolute levels, but also based on current consumption levels. This chart from the Commonwealth Bank underlines that last...
Share this Article
Comment on this Article
Recommended
Please to comment