After US crude stocks reached their highest since September 2017, the beginning of May saw a partial reversal in recent builds. The latest stock draw was fuelled by a fall in net imports and an extended refinery maintenance period ahead of new IMO marine fuel standards which come into effect next year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services