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The U.S. Energy Information Administration ("EIA") released the most recent Petroleum Balance Sheet for the week ending November 15, 2019:
Total Stocks, including the Strategic Petroleum Reserve, dropped by seven million barrels, a significant week-over-week change, especially because last week's drop comes at the heels of another major drop in the previous week:
In just two weeks, Total Stocks dropped by 15 million barrels, even as the Crude Oil Input to Refineries jumped by 700 thousand barrels per day or more than 4 million barrels per week during the same period and Domestic Production