US inventory comfort zone questioned

The Energy Information Administration claimed commercial US crude inventories on Mar. 24 were at the highest level since Apr. 16, 1999, but Petromatrix GMBH in Zug, Switzerland, said that is misleading because US production and refining capacities have changed in the last 7 years.EIA reported Mar. 29 US commercial crude inventories increased by 2.1 million bbl to 340.7 million bbl in the week ended Mar. 24 vs. a 1.3 million bbl drop the previous week. US crude stocks remained well above the upper end of the average range for that time of year.But US crude production is lower by 1 million b/d than it was in 1999, while US refining capacity is 1.2 million b/d greater, said Petromatrix analy...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected