March 20, 2026 03:29 PM GMT Oil Data Digest | Europe Weekly Oil Stock Summary Total oil inventories drew by 12.5 mln bbls last week. Crude stocks built by 0.7 mln bbls, as a build in the US offset draws in NW Europe and Japan. Refined product stocks drew by 13.1 mln bbls, driven by draws in the US and NW Europe. The charts below summarise all oil inventory data available on a weekly basis for the US from the EIA, Antwerp-Rotterdam-Amsterdam (ARA) from Genscape and PJK, Japan from PAJ, Singapore from IE, and ...

API shows weekly rise in US crude stocks, fuel inventories fall, sources say | Reuters Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv A drone view of a pump jack and drilling rig south of Midland, Texas, U.S. June 11, 2025. REUTERS/Eli Hartman/File Photo Purchase Licensing Rights, opens new tab HOUSTON, March 17 (Reuters) - U.S. crude stocks rose last week while fuel inventories fell, market sources said, citing American Petroleum Institut ...

US crude stocks rise, gasoline and distillate inventories fall, EIA says | ReutersSkip to main contentExclusive news, data and analytics for financial market professionalsLearn more aboutRefinitivA pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, U.S. February 18, 2025. REUTERS/Eli Hartman Purchase Licensing Rights, opens new tabU.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesd ...

US crude and fuel stocks fall, EIA says | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]A drone view shows a portion of the crude oil tank farm in Midland, Texas, U.S. June 11, 2025. REUTERS/Eli Hartman [Purchase Licensing Rights, opens new tab]HOUSTON, Feb 19 - U.S. crude, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday.Crude inventories fell by 9 million barrels to 419.8 ...

Group 1: Oil Market Dynamics - Gasoline stocks increased by 200,000 barrels while distillate stocks rose by 300,000 barrels, indicating a shift in refinery output potentially due to changing demand [1] - Gasoline production surged to 9.6 million barrels per day, whereas distillate production declined to 4.8 million barrels, highlighting an imbalance in the market [1] Group 2: Federal Reserve Impact - The Federal Reserve maintained interest rates at 3.50%–3.75%, pausing after three cuts last year due to persistent inflation and slowing job growth, which indirectly supported the oil market [2] - The stabilization of the U.S. dollar due to the Fed's cautious stance, combined with ongoing inflation fears, has added rate premiums to oil prices [3] Group 3: Geopolitical Factors - Citgo's purchase of Venezuelan oil marks a significant development, as it is the first deal since 2019, following a U.S.-Venezuela agreement after political changes in Venezuela [4] - The delivery of approximately 500,000 barrels of heavy crude arranged through Trafigura indicates a re-entry of Venezuelan oil into the market, which could alter global supply dynamics [5] - Citgo refineries are specifically designed for heavy crude processing, suggesting that this shift may complicate global supply flows in the near future [5]

Core Insights - The American Petroleum Institute (API) reported an increase in U.S. crude oil inventories by 3 million barrels last week, compared to an increase of 5.278 million barrels the previous week [1] - API's Cushing crude oil inventory rose by 1.2 million barrels last week, up from a previous increase of 0.945 million barrels [1] - Gasoline inventories increased by 6.2 million barrels last week, while distillate inventories decreased by 33,000 barrels [1]

Group 1 - The technical resistance in the oil market has been cleared, leading to speculative buying and short-covering, while short-sellers are reacting to a global supply glut [1] - The American Petroleum Institute (API) reported significant inventory builds in U.S. crude and products, with crude stocks rising by 5.23 million barrels, gasoline inventories climbing by 8.23 million barrels, and distillate inventories increasing by 4.34 million barrels [2] - Venezuela has begun reversing oil production cuts due to a U.S. embargo, with reports of two supertankers carrying about 1.8 million barrels each headed to the U.S. as part of a 50-million-barrel deal [3] Group 2 - The oil market faces a potentially bearish scenario as supply is moving without disruptions, indicating a stable supply situation [4] - The situation in Iran remains uncertain, with the potential for turmoil to escalate, but major disruptions to oil production are not anticipated unless external attacks occur [5]

Industry Overview - Energy markets are experiencing volatility with oil prices declining despite a significant draw in U.S. crude inventories, leading to cautious investor sentiment [1][2] - WTI crude is trading near the mid-$50s per barrel, while Brent is close to $60, reflecting a market struggling to gain upward momentum [2] - U.S. commercial crude inventories fell by 3.8 million barrels, about 3% below the five-year average, indicating tighter crude availability [3] Supply and Demand Dynamics - Refinery runs are strong, with utilization near 95%, indicating steady demand for feedstock, but the bullish impact of lower crude stocks is muted due to concerns over broader supply dynamics [3] - Refined product inventories have increased sharply, with gasoline inventories rising by 7.7 million barrels and distillate stocks by 5.6 million barrels, suggesting softer end-user demand [4] - Crude oil imports surged to 6.3 million barrels per day, adding short-term supply pressure and limiting price upside [5] Investment Opportunities - Despite recent price weakness, the underlying data suggests temporary imbalances rather than a structural downturn, with strong refinery utilization and below-average crude inventories providing a constructive backdrop [6] - Companies such as Phillips 66, W&T Offshore, and Oceaneering International are highlighted as strong buys due to their diversified operations and potential for improved fundamentals [8][9] Company Profiles Phillips 66 - A diversified energy manufacturing and logistics company, it operates a broad network of refineries primarily in the U.S. and has significant exposure to chemicals and midstream operations [10][11] - Expected EPS growth rate for three to five years is 30.7%, outperforming the industry average of 17% [12] W&T Offshore - An independent oil and natural gas producer with interests in 50 offshore fields, it has generated positive cash flow for over 28 consecutive quarters [13][14] - The company has a market capitalization of $233.6 million and has a drilling success rate near 90% [15] Oceaneering International - A global technology company providing engineered services and products for offshore energy and other sectors, it focuses on robotics and automation to enhance efficiency [16][17] - The Zacks Consensus Estimate for its 2025 earnings per share indicates a 68.4% year-over-year growth [18]

Group 1 - Oil futures extended losses due to a significant increase in U.S. crude oil inventories, which rose by 5.2 million barrels according to the EIA report [1] - The increase in crude oil inventories was primarily driven by a rise in imports, which offset the previous week's inventory drawdown [1] - Gasoline stocks experienced a larger-than-expected decline, falling by 4.7 million barrels for the fifth consecutive week, while distillate stocks decreased by 643,000 barrels, marking five weeks of decline [2]

Summary of Key Points from the Oil Data Digest Industry Overview - The report focuses on the oil industry, specifically detailing oil inventory data across various regions including the US, Japan, Europe, Singapore, and Fujairah. Core Insights and Arguments - **Total Oil Inventories**: Total oil inventories decreased by 27.4 million barrels (mln bbls) last week, with crude stocks down by 6.7 mln bbls and refined product stocks down by 20.7 mln bbls, indicating a significant draw across all regions [2][3][4][6]. - **Regional Breakdown**: - **US**: Crude stocks drew by 6.3 mln bbls, with a notable drop in gasoline stocks by 5.9 mln bbls and middle distillate stocks by 3.4 mln bbls [6][75][77]. - **Japan**: Total oil stocks decreased by 2.7 mln bbls, with crude stocks contributing to this draw [32][4]. - **Europe**: Total oil stocks saw a minor draw of 0.4 mln bbls [34]. - **Singapore**: Product inventories decreased by 4.8 mln bbls [27]. - **Fujairah**: Product inventories drew by 2.3 mln bbls [25]. Additional Important Information - **Refinery Operations**: US refinery runs fell by 510 thousand barrels per day (kbpd) week-over-week, primarily due to unplanned outages in key refineries [75][83]. - **Crude Production**: US crude production increased slightly by 20 kbpd, averaging 13.6 million barrels per day (mbpd) [89]. - **Import and Export Trends**: Crude imports dropped by 0.9 mbpd while exports rose by 0.2 mbpd, contributing to the overall draw in crude inventories [90][76]. - **Historical Context**: The current inventory levels for gasoline and middle distillates are now below the levels seen in 2024 for the same period, indicating tighter supply conditions [77]. Summary Tables - **Week-Over-Week Changes**: A summary table indicates significant draws in crude and refined products across various regions, with total crude stocks down by 6.736 mln bbls and refined products down by 20.668 mln bbls [6][7][78]. This summary encapsulates the critical data and insights from the oil inventory report, highlighting trends and changes in the oil market that could impact investment decisions.