U.S. Crude Oil Stocks, Mexican Oil Imports: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
U.S. Crude Oil Stocks Rise, Gasoline Decreases - U.S. crude oil inventories rose last week due to a big adjustment for unaccounted barrels, while gasoline stockpiles fell as demand grew ahead of the summer driving season, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude oil inventories rose by 1.8 million barrels to 458.8 million barrels in the week ending May 17, the EIA said. Despite higher exports and refining rates and steady production, crude stocks grew as the EIA's adjustment number, which tracks unaccounted-for crude, rose to 1.4 million barrels last week, its highest since early November. Gasoline stocks fell by 945,000 barrels in the week to 226.8 million barrels. Distillate stockpiles rose by 379,000 barrels in the week to 116.7 million barrels, the EIA said. (Reuters)

U.S. Imports of Mexican Oil Fall to Lowest on Record - U.S. weekly imports of crude oil from Mexico fell to 184,000 barrels per day (BBL/d) last week, their lowest on record, data from the U.S. Energy Information Administration showed on Wednesday. The previous low was 208,000 BBL/d in the week to April 12, after state energy company Pemex (Mexico City) cut exports to supply more to its domestic refineries. (Reuters)

POWER
U.S. Power Consumption from EVs Jumps to New Highs - U.S. electricity consumption from electric vehicles (EVs) over the first two months of 2024 jumped by more than 50% from the same months in 2023 as EVs continue to penetrate the U.S. car market and impact electricity flows. Total electricity use by EVs through February 2024 was 1.58 million megawatt-hours (MWh), compared with 1.04 million MWh during the same period in 2023, according to the EIA. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).