In March, US crude inventories decreased by 24.3 million barrels, while product inventories increased by 0.4 million barrels. US implied oil demand fell by 647,000 barrels per day to 1 million barrels per day last week. US product supplied of crude and petroleum products dropped to 19.9 million barrels per day, the lowest since January 2024. The US remained a net petroleum exporter in March, with exports exceeding imports by 2.663 million barrels per day. Top buyers of US refined products in March included Mexico, China, Japan, Canada, Netherlands, South Korea, India, and Chile. US oil demand decreased by 206,000 barrels per day year-on-year to 19.877 million barrels per day in March.
US oil demand fell by 206kbpd or 1.0% y/y to 19.877mbpd in March y/y changes in kbpd Gasoline -120 to 8,887 NGL +292 to 3,339 Distillate -429 to 3,674 Jet fuel +45 to 1,651 Still gas -31 to 598 Residual fuel oil +68 to 314 Asphalt +4 to 262 EIA #oott https://t.co/CpV80Lqpqq
Top buyers of US refined products in March in kbpd (total exports 6.390mbpd) Mexico 1,148 China 664 Japan 628 Canada 447 Netherlands 245 South Korea 244 India 221 Chile 197 EIA #oott
The US remained a net petroleum exporter, with petroleum exports exceeding imports by 2.663mbpd in March - EIA #oott https://t.co/VvnG5EqQTB
OIL MARKET: Contrary to previous months, @EIAgov is revising down data for March. Based on new data, US total oil demand is pegged at 19.877m b/d (down ~360k b/d from an initial estimate using weekly data of 20.235m b/d). Diesel and gasoline demand revised down too #OOTT
U.S. PRODUCT SUPPLIED OF CRUDE AND PETROLEUM PRODUCTS FELL IN MARCH TO 19.9 MLN BPD, LOWEST SINCE JAN 2024 - EIA
⚠️ U.S. PRODUCT SUPPLIED OF CRUDE AND PETROLEUM PRODUCTS FELL IN MARCH TO 19.9 MLN BPD, LOWEST SINCE JAN 2024 - EIA
US implied oil demand (product supplied) in mbpd - EIA #oott https://t.co/ftIILFEDv0
US implied gasoline demand (product supplied) in mbpd - EIA #oott https://t.co/dA5kkZfm9W
US implied oil demand product supplied fell by 647kbpd l383w/w to 1mbpd last week w/w in kbpd gasoline -167 jet fuel +199 distillate -88 residual fuel oil +77 propane/propylene -346 other oils -322 EIA #oott
Crude inventories fell by 24.3 mb in March while product inventories rose by 0.4 mb. @JODI_Data https://t.co/uZfCk9lSHy