US energy inventory and production data
- Prior was -7208K
- Gasoline -2517K vs -1000K exp
- Distillates -150K vs -900K exp
- Cushing -39K vs -1699K prior
Production
- 9.43mbpd vs 9.41mbpd prior
- Production +0.2% w/w
- Production +11.5% y/y
Oil quickly lower on the headlines. API yesterday said that inventories had rode 1780K but also included a draw of 4830K for gasoline and 1230K for distillates. The market is focused on a market that's a bit looser overall.
