Weekly oil inventories and production

  • Gasoline -3472K vs -2376K expected
  • Distillates -2090K vs -2000K expected
  • Refinery utilization +0.6% vs -0.25% expected
  • Production +0.2%
  • Production 10.433 mbpd vs 10.407 mbpd last week

API data:

Oil is down for the third consecutive day today but WTI jumped to $64.85 from $64.46 on the headlines because the API numbers had been so bearish.