EIA weekly US oil inventories -1844K vs -605K expected

  • Weekly US oil inventory data from the EIA for the week ending Nov 22
oil pumpjack Alberta foothills
  • Crude oil inventories -1844 K vs -605K exp
  • Gasoline inventories +3314K vs -46K exp
  • Distillates inventories +416K vs -103K exp
  • Refinery utilization +0.3% versus expectations of +0.4% exp
  • Production 13.49mbpd from 13.2mbpd

Private oil inventory data from late yesterday:

  • Crude -5939K
  • Gasoline +1814K
  • Distillates +2543K

WTI crude oil was trading 10-cents higher to $68.87 before the data. Note that the OPEC decision is due on Sunday. They're expected to rollover production through January and perhaps all the way through Q1.

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