U.S. crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration (EIA) said on Dec. 27.
Crude inventories fell by 5.5 million barrels (MMbbl) in the week to December 20 to 441.4 MMbbl, compared with analysts' expectations in a Reuters poll for a 1.7 MMbbl drop.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.4 MMbbl in the last week, EIA said.
Refinery crude runs rose by 418,000 barrels in the last week, EIA said. Refinery utilization rates rose by 2.7 percentage points, in the week.
U.S. gasoline stocks rose by 2 million barrels in the week to 239.3 MMbbl, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.7 MMbbl rise.
Distillate stockpiles, which include diesel and heating oil, fell by 152,000 bbl in the week to 124.9 MMbbl, versus expectations for an 800,000-bbl rise, the EIA data showed.
Net U.S. crude imports rose last week by 466,000 bbl/d, EIA said.
Today’s featured Forty Under 40 honoree is Stephanie Reed, Parsley Energy’s VP of land who oversaw the execution of more than two dozen trades across the core of the Midland Basin.
Black Stone Minerals certain mineral and royalty properties from its Permian Basin position through two separate agreements with the larger of the two involving EnCap portfolio company Pegasus Resources.
PDC now adds SRC Energy’s core area of operations in the Greater Wattenberg Field of the D-J Basin to its portfolio, which includes positions in the D-J and Permian basins.