The petroleum industry in the United States has been increasingly affected by various recent domestic and international events including the Corona virus pandemic and geopolitics in the middle east. Lately, there have been numerous signs of tribulations pointing to a potential damaging blow to an industry that is a major contributor to the US gross domestic product, employing millions of people.
We have now increased our coverage with more granular data on the oil and gas industry in the US from the Energy Information Administration. We have also put in a lot of effort into the way in which we structure our data to make it easier for Macrobond users to navigate the database and produce research in a faster more convenient way.
In the table below, we started by creating a bar chart with the current level of stocks/inventories for different petroleum products including the year-over-year and month-over-month percentage change. The table shows an increase in storage for almost all types of petroleum products compared to the same month last year but with a slight decrease from last month.