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 rose by 6,346 MBBL last week to 422,787 MBBL from 416,441 MBBL. This is 8% below the 457,341 MBBL that was in storage at this point last year, and is 2% above the five-year average. This week’s build was a surprise, as the average analyst prediction called for a build of 3,523 MBBL.

Gasoline inventories decreased by 4.8 MMBBL this week to 229.3 MMBBL. Fuel oil inventories fell by 2.3 MMBBL to 130.4 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 8.0 MMBBL to 1,255.0 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 11,025 MBOPD,...

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