The Oil Report

The Oil Report

EIA Inventories

The props are gone as the SPR mask comes off

Tim Duggan's avatar
Tim Duggan
Sep 02, 2026
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Week ending Aug 31, 2026 Released: 2nd Sept 2026

Notable this week

  • SPR: -3.12 MMbbl w/w [notable]

  • Distillate: +796 kbbl w/w

  • Cushing +80 kbbl

  • Refinery utilisation at 98%

Snapshot

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The call

Looks at Chart of the week below. My ‘Headline delta’ chart. It basically looks at the headline figure each week and calculates for me how the headline commercial figure was reached by EIA.

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