- Prior was -4523K
- Gasoline +163K vs -1614K exp
- Distillates -2400K vs +1038K exp
- Refinery utilization -1.2% vs +0.6% exp
- US implied oil demand (product supplied) fell by 28kbpd w/w to 19.948mbpd last week with gasoline down 704k bpd.
Oil prices are dipping after the data.
API data released late yesterday:
- Crude +2165K
- Gasoline -204K
- Distillates -351K
- Cushing +653K
The jump in oil after OPEC has been erased. The fall in gasoline implied demand is a bit puzzling given falling prices and reports of higher demand at the pumps but the numbers are what they are.
