The EIA released its monthly Short Term Energy Outlook yesterday: http://www.eia.gov/outlooks/steo/pdf/steo_full.pdf
“Implied global petroleum and liquid fuels inventories are estimated to have increased by 0.8 million barrels per day (b/d) in 2016. EIA expects the oil market to be relatively balanced in 2017 and 2018, with inventory draws averaging 0.1 million b/d in 2017 and builds averaging 0.2 million b/d in 2018. The revised forecast, which reduces average inventory builds from last month’s outlook, resulted from changes to estimates of historical global liquid fuels consumption that created a higher base for consumption during recent years and the forecast period.
Leave a Reply