Weekly US petroleum inventories and production
- Prior +5778K
- Gasoline +534K vs -1500K expected
- Prior gasoline +1883K
- Distillates +634K vs -1200K expected
- Prior distillates -951K
- Production +0.4% w/w
- Production 10.769 mbpd vs 10.725 mbpd prior
- Production up 15.3% y/y
The countdown is on to 11 million barrels per day in the US. Overall, this helps to reverse the big surprise build from last week. That report was what really started the hiccup in crude prices in the past week (along with OPEC talk of raising quotas).
