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 1,396 MBBL last week to 455,154 MBBL from 456,550 MBBL. This is 6% above the 427,567 MBBL that was in storage at this point last year, and is even with the five-year average. This week’s draw was a surprise, as the average analyst prediction called for a build of 1,564 MBBL.

Gasoline inventories decreased by 1.2 MMBBL this week to 228.0 MMBBL. Fuel oil inventories fell by 0.4 MMBBL to 127.7 MMBBL. Overall, petroleum stocks excluding the SPR increased by 2.5 MMBBL to 1,235.8 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,150 MBOPD,...


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