Oil inventory and production data for the week ended April 25
- Prior was -3337K
- Gasoline +35K vs 0K exp
- Distillates +748K vs +157K exp
- Cushing +689K
- Production 9.530 mbpd vs 9.528 mbpd prior
- Production up 12.3% y/y
API data released late yesterday:
- Crude -5780K
- Gasoline +476K
- Distillates -486K
- Cushing +582K
The storm is going to skew these numbers for weeks.
Small spike in WTI that quickly faded back to $46.12. The API report did a good job of foreshadowing the large draw.
