US crude oil stocks fell by 9.589 million barrels in the week ended March 15th 2019, following a 3.862 million decrease in the previous week and compared to market expectations of a 0.074 million rise. It is the biggest decline in oil inventories since the week ended July 6th. Meanwhile, gasoline inventories dropped by 4.587 million barrels, after a 4.624 million fall in the previous week. Crude Oil Stocks Change in the United States averaged 0.06 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 2.50 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 2.70 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.