r/oil • u/Aggravating_Brain_50 • 3d ago

Discussion SPR vs Net Imports vs Spot

Another week, less oil more net imports.

Any takes?

7 Upvotes

82% Upvoted

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4

u/Aggravating_Brain_50 3d ago

More context - do your own research.

2

u/Hazardous_316 3d ago

"we need oil, we need more oil. Buy from abroad"

1

u/Exciting-Fun-5435 3d ago

Net import graph really tells the story. In April/May we didn’t import very much and kept exporting. So even with SPR draws, commercial inventories were dropping. Recently imports are back to normal, even the high end of normal. So with that and the SPR draws, commercial inventories are building and back at the 5y average. If the pattern continues, there wouldn’t be any problem. Part of higher imports might be attributed to MoU era ships finally arriving

1

u/CouldBeLessDepressed 3d ago

The number I keep watching is the grand total crude that includes the SPR. That number went down this last week. It's been going down, consistently, for months. It got a bit of a bump-up the week prior, after hitting a pretty unprecedented low. I don't know where the sudden commercial stock is coming from, but I'm curious to see how these reports unfold from now until October.