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US SPR Rose 600kbbl in Week to 11 Aug

OIL

Crude inventories in the US Strategic Petroleum Reserve rose by 600kbbls last week as part of the US plans to refill 12mbbls of oil reserves this year according to data from the Department of Energy.

  • Total inventories were up to 348.4mbbl on Aug 11 from 347.8mbbl the previous week.
  • Sour oil stocks rose by 600kbbl to 204.8mbbl and sweet oil remained unchanged at 143.5m bbl.
  • The SPR has received 1.6mbbls of the scheduled 3.1m bbl of oil in August with another 3.2mbbls set for delivery in September.

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