February 2016, Vol. 243, No. 2

Features

EIA: High Inventories Push Crude Prices to Lowest Levels in 13 Years

Several factors have played a part in pushing U.S. crude oil prices below $30 per barrel , including high inventory levels of crude oil, uncertainty about global economic growth, volatility in equity and non-energy commodity markets, and the potential for additional crude oil supply to enter the market. Crude oil and petroleum product inventories, both domestically and internationally, have been growing since mid-2014 and are above five-year averages for this date. Although there is still traditional, on-land storage space available, higher inventory levels and expectations for global inventories to continue building in 2016 are lowering crude oil and petroleum product prices for near-term

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