Weekly US petroleum inventory and production data
- Prior was +2800K
- Gasoline -1781K vs -2500K expected
- Distillates -1998K vs -600K
- Refinery utilization -0.2% vs +1.0% exp
- Cushing +201K
- Production 12.2mbpd vs +12.1mbpd prior
API data late yesterday:
- Crude +3000K
- Gasoline -2600K
- Distillates -1900K
- Cushing +18K
US production hit a fresh record at 12.2 million barrels per day. Crude inventories grew substantially and WTI fell to $62.07 from $62.50 on the headline but have recovered about half of that.
