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 9,589 MBBL last week to 439,483 MBBL from 449,072 MBBL. This is 3% above the 428,306 MBBL that was in storage at this point last year, and is 1% below the five-year average. This week’s draw was a surprise, as the average analyst prediction called for a build of 602 MBBL.

Gasoline inventories decreased by 4.6 MMBBL this week to 241.5 MMBBL. Fuel oil inventories fell by 4.1 MMBBL to 132.2 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 12.6 MMBBL to 1,221.9 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,075 MBOPD, i...

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