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 3,862 MBBL last week to 449,072 MBBL from 452,934 MBBL. This is 4% above the 430,928 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 2,573 MBBL.

Gasoline inventories decreased by 4.6 MMBBL this week to 246.1 MMBBL. Fuel oil inventories rose by 0.4 MMBBL to 136.4 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 10.2 MMBBL to 1,234.5 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,050 MBOPD,...

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