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USAI - Open Insights: EIA's Weekly Petroleum Report (10/25/19)
American Energy Independence
We took a brief hiatus from our weekly series Open Insights to update our oil thesis, recently published here, but we're back to looking at the EIA's Weekly Petroleum Status Report ("WPSR"). This is for the week of October 25, 2019.
EIA reported a significant crude build of 5.7M barrels for the week as crude imports climbed higher than our forecast and exports came in lower. Net imports leapt by 1.2M bpd, or over 8.4M barrels in total, and the significant deviation from our figures suggests that it could reverse in the weeks to