The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week.

Crude oil stocks fell by 46 MBBL last week to 441,411 MBBL from 441,457 MBBL. This is 2% above the 431,882 MBBL that was in storage at this point last year, and is 7% above the five-year average. This week’s draw fell short of expectations, as the average analyst prediction called for a draw of 3,393 MBBL.

Gasoline inventories increased by 3.0 MMBBL this week to 233.1 MMBBL. Fuel oil inventories were flat at 119.9 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 2.0 MMBBL to 1,227.5 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 11,650 MBOPD, ...


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