Energy Commentary
June 25, 2020
The latest EIA energy report lists US Total Petroleum Oil Stocks (excluding SPR) at 1.45 billion barrels as of June 19, 2020 (green arrow). As of March 13, 2020 (red arrow), the beginning of the US stay-at-home orders in response to the COVID-19 pandemic, Total Petroleum Stocks were at 1.26 billion barrels. In the course of about four months, there has been a record increase in stocks to an all-time record high. Such is the impact of the pandemic on the collapse of demand for petroleum products. Unfortunately, we believe these record level stocks will remain in the near future, pressuring prices of most petroleum products.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > DOE > Crude Oil > Stocks > Total Stocks (Excluding SPR).
Total Petroleum Stocks (excluding SPR)
Latest Data as of Friday, June 19, 2020 1.45 billion barrels
If you would like access to the great insights and analysis provided by the Fundamental Analytics platform, sign up for a 15-day free trial and demonstration!
If you have any questions, please contact our Managing Director, Joel Fingerman, at alexios.tyrakis@fundamentalanalytics.com
We also invite you to read our other articles and follow us on social media!
Best Regards,
The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.