Weekly statistics on US petroleum production and stockpiles
- Prior was +7238K
- Gasoline -7710K vs -2150K expected
- Distillates -116K vs -1050K expected
- Refinery utilization +1.10% vs +1.00% expected
- Production 12.2mbpd vs 12.2mbpd prior
API numbers yesterday:
- Crude +4100K
- Gasoline -7100K
- Distillates -2400K
- Cushing -1300K
The EIA report is similar to yesterdays' API date in that it shows a build in crude but a sharp draw in gasoline. On net, the numbers aren't as supportive as API with smaller draws in distillates and a larger build in crude. The initial reaction in oil, however, is muted.