EIA US weekly oil inventories -2622K vs +3250K expected

Author: Adam Button | Category: News

Weekly oil inventories

  • Prior was +5022K
  • Cushing inventories +905K vs +338K
  • Gasoline -1693K vs -2450K exp
  • Distillates -2022K vs -2250K exp
  • Refinery utilization +1.7% vs -0.3% (prior +2.0%)

Refineries have been rapidly picking up.

The drop in crude supplies was close to the API reading of -2739K. Production was up 0.3% w/w to 10.407 mbpd and up 14.0% y/y.

US production: