US Crude Storage Outlook - Flat

Here are the two crude estimates from the last 2-weeks.

Nov 3 Estimate

Nov 10 Estimate

In total, we estimated a crude draw of ~1.41 million bbls. US crude imports were low throughout the two weeks, while US crude exports averaged close to ~4 million b/d.

If US refinery throughput did not average ~15.6 million b/d, however, you should expect US commercial crude storage to show a build.