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Crude Oil January 28, 2025 06:55:00 AM

Macquarie Forecasts USA Crude Inventory Build

Anil
Mathews
OilMonster Author
The report anticipates a large increase in net imports, driven by sharply lower exports and modestly lower imports.
Macquarie Forecasts USA Crude Inventory Build

SEATTLE (Oil Monster): According to Macquarie strategists' most recent oil and gas analysis, the week ending January 24, 2025, would see a 4.8 million barrel increase in U.S. crude inventories. This contrasts with its previous estimate of 2.7 million barrels.

Due to a substantial decline in exports and a minor decline in imports, the research predicts a significant increase in net imports. It is anticipated that imports will slightly decrease by 0.2 million barrels per day, while exports will decrease by 0.9 million barrels per day.

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Winter weather conditions have the potential to cause distortions in both crude and product balances, according to the research. Over the course of the week, there may be a minor increase in the estimated domestic supply. Additionally, it predicts that SPR stockpile will rise by 0.1 million barrels per day.

The Macquarie strategists predict 3.6 million barrels of gasoline and 0.5 million barrels of jet fuel will be added. However, it predicts that 1.4 million barrels of distillate will be drawn. It is estimated that the implied demand for these products will be approximately 13.7 million barrels per day in the week ending January 24.

The team anticipates that the next weekly petroleum status report, which is scheduled for January 29, 2025, will show a moderate build in U.S. crude. According to the EIA's earlier report, U.S. commercial crude oil stocks fell by 1.0 million barrels in the week ending January 17, 2025.


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