EIA: US crude inventories down 6% from 5-year average
Friday, July 22, 2022
U.S. crude oil inventories decreased 400,000 bbl week-over-week for the week ended July 15, the Strategic Petroleum Reserve, according to the Energy Information Administration.
The drop left U.S. crude oil inventories about 6% below the 5-year average for this time of year, sitting at 426.6 million bbl according to Oil & Gas Journal.
During the same period, the EIA reported total motor gasoline inventories increased by 3.5 million bbl and are about 3% below the 5-year range for this time of year.
Learn more: Oil & Gas Journal > EIA: US crude inventories down 400,000 bbl
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.