Stocks of crude oil in the United States increased by 4.74 million barrels in the week ended May 17th 2019, following a 5.431 million rise in the previous week and compared with market expectations of a 0.599 million drop. Meanwhile, gasoline inventories rose by 3.716 million, after a 1.123 million decline in the prior week and against market consensus of a 0.816 million decrease. Crude Oil Stocks Change in the United States averaged 0.08 BBL/1Million from 1982 until 2019, reaching an all time high of 14.42 BBL/1Million in October of 2016 and a record low of -15.22 BBL/1Million in January of 1999.
Crude Oil Stocks Change in the United States is expected to be 4.50 BBL/1Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Crude Oil Stocks Change in the United States to stand at 5.00 in 12 months time. In the long-term, the United States Crude Oil Stocks Change is projected to trend around 2.60 BBL/1Million in 2020, according to our econometric models.