Stocks of crude oil in the United States jumped by 10.27 million barrels in the week ended November 9th 2018, following a 5.783 million increase in the previous week and above market expectations of a 3.182 million gain. It is the biggest monthly rise in crude oil inventories since February of 2017. Meanwhile, gasoline inventories declined by 1.411 million barrels compared to market forecasts of a 1.479 million decline. Crude Oil Stocks Change in the United States averaged 0.06 BBL/1Million from 1982 until 2018, 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 -2.00 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 3.80 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.