Weekly US energy inventory and production data
- Prior crude oil +6346K
- Gasoline 3161K vs -2250K expected
- Distillates -4054K vs -1550K expected
- Production 11.2 mbpd vs 10.9 mbpd prior
- Production up 2.8% w/w
The API numbers from yesterday:
- Crude oil +5690K
- Gasoline -3500K
- Distillates -3100K
- Cushing +14400K
Oil initially rose after the API report but it's now down 30-cents today to $65.90.
The US production number is notable, that's matches the cycle high. For all the talk of politics and who did what; the rise in US oil production is undoubtedly the most important domestic economic development of the decade and it was about technology, not government.
![](http://az705044.vo.msecnd.net/20181031/us-weekly-oil-production.png)