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 3,963 MBBL last week to 466,604 MBBL from 470,567 MBBL. This is 8% above the 433,758 MBBL that was in storage at this point last year, and is 2% above the five-year average. This week’s draw was a surprise, as the average analyst prediction called for a build of 1,112 MBBL.

Gasoline inventories decreased by 0.6 MMBBL this week to 226.1 MMBBL. Fuel oil inventories fell by 0.2 MMBBL to 125.6 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 1.7 MMBBL to 1,255.6 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,200 MBOPD, ...


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