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OIH - Open Insights: EIA's Weekly Petroleum Report (04/26/19)
VanEck Vectors Oil Services
(For reference, we recently updated our oil analysis in our latest quarterly letter which can be found here).
Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of April 26, 2019.
EIA reported a crude build of 9.9M barrels for the week. Imports increased by 0.27M barrels per day (bpd) from last week and hovered around 7.4M bpd. Exports increased by 0.07M bpd and registered 2.6M bpd. Given where WTI/Brent spreads are (still hovering near $9/barrel), we anticipate exports to remain healthy.