Storage capacity utilization rises, as growth in stored volumes outpaces expansion of storage capacity (6/8/2016)

The United States added 34 million barrels (6%) of working crude oil storage capacity from September 2015 to March 2016, the largest expansion of commercial crude oil storage capacity since EIA began tracking such data in 2011 (Figure 1). At the same time, reported weekly U.S. commercial crude inventories have increased by more than 72 million barrels (16%) since September, which implies crude oil storage capacity utilization at a record high of 74% for the week ending June 3. ... More »