Whoa! The analysts missed this one by a mile. Here were the predictions, prior to the release of the report:
Analysts surveyed by Dow Jones Newswires on average predict crude inventories rose 300,000 barrels during the week ended Oct. 19, and Vienna’s PVM Oil Associates also noted that “expectations for this week’s U.S. oil inventory data [...]
Crude Oil Inventories,Crude Oil Inventories >
This Week in Petroleum 10-24-07 
This Week in Petroleum 1-30-08
Updated
Gasoline inventories did in fact edge upward, as gasoline imports were very strong. Had that not been the case, gasoline inventories would have definitely come down, as utilization continues to trend down. In fact, just glancing over the data, more gasoline may have been imported this January than in any other January before. As long [...]
This Week in Petroleum 9-06-07
Another week, another all-time low on gasoline inventories. As I wrote last week:
Gasoline inventories were not this low following Hurricane Katrina, and yet we have had an uneventful summer. It is very possible that we will not dig ourselves out of this hole for a long time. In the short term, an upturn in gasoline [...]
This Week in Petroleum 11-21-07
2nd Update:
Well, we got that big surprise, primarily because crude imports were sharply down from last week. Some excerpts:
U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending November 16, down 151,000 barrels per day from the previous week’s average. Refineries operated at 87.0 percent of their operable capacity last [...]
This Week in Petroleum 1-16-08
With all of the traveling, and then trying to catch up after the holidays, I haven’t had time to do a proper TWIP. Anyway, mostly what we saw for the past month were crude draws, and gasoline inventories climbing back up and getting in pretty good shape prior to spring turnaround season. Part of the [...]
This Week in Petroleum 12-5-07
Update following the release:
Big surprises all around this week:
Summary of Weekly Petroleum Data for the Week Ending November 30, 2007
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 8.0 million barrels compared to the previous week. At 305.2 million barrels, U.S. crude oil inventories are in the upper half of [...]
This Week in Petroleum 4-4-07
I don’t think I have ever seen the forecasters miss the estimate this badly. They were forecasting a 300,000 barrel decline in gasoline stocks, and instead got a 5 million barrel decline. For the first time in a long time, inventories are now in the lower half of the normal range.
Summary of Weekly Petroleum Data [...]
This Week in Petroleum 7-25-07
Just a quick update on the highlights of the weekly EIA report:
U.S. crude oil refinery inputs averaged over 15.8 million barrels per day during the week ending July 20, up 172,000 barrels per day from the previous week’s average and the highest average since the week ending September 22, 2006. Refineries operated at 91.7 percent [...]
This Week in Petroleum 4-11-07
Update:
Gasoline Inventories Are Plummeting
This week’s report highlights:
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.7 million barrels compared to the previous week. At 333.4 million barrels, U.S. crude oil inventories are just above the upper end of the average range for this time of year. Total motor gasoline inventories [...]
This Week in Petroleum 12-12-07
Updated: You would think if last week’s large inventory drop was due to fog-induced delays, all of that crude would show up this week. Not so, as another drop in crude inventories was recorded:
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) dropped by 0.7 million barrels compared to the previous week. [...]
