Weekly oil inventories and production
- Prior was +856K
- Gasoline inventories -4020K vs -1550K exp
- Prior gasoline inventories -1550K
- Distillate inventories -320K vs -2500K exp
- Prior distillates -5246K
- Production +0.5% w/w
- Production 9.553mbpd vs 9.507mbpd prior
That bump in production is a bit bearish for crude. The draws in oil and gasoline are balanced by the small draw in distillates.
Yesterday’s API data showed a big draw in crude and gasoline.