DOE Insights
Wednesday, April 25, 2018
Crude Oil Stocks Build, Expectations were for a Draw
The DOE reported Total Crude Inventories increased by 2.2 million barrels to 429.7 million barrels for the week ending April 20, 2018, expectations average was for a draw of 1.7 million barrels, with a range of 3.0 million draw to a build of 1.5 million barrels.
Overall hydrocarbon supplies increased by 1.4 million barrels.
Crude Production was basically unchanged at 10.6 million barrels per day.
Total Crude Imports increased by 600,000 barrels per day to 8.5 million barrels per day.
Total Refinery Crude Runs were off by 330,000 barrels per day to 16.62 million barrels per day.
Gasoline Stocks Build, Expectations were for a Draw
Total MotorGasoline Inventories increased by 800,000 barrels to 236.8 million barrels for the week ending April 20, 2018, average of expectations was for a draw of 600,000 barrels, with a range of a draw of 2.5 million barrels to a build of 1.0 million barrels.
Implied Demand was off by 670,000 barrels per day at 10.66 million barrels per day.
Gasoline production was off by 320,000 barrels per day to 9.89 million barrels per day.
Distillates Stocks Draw, Much Greater Than Expectations
Total Distillates Stocks decreased by 2.6 million barrels to 122.7 million barrels for the week ending April 20, 2018, average of expectations was for a draw of .9 million barrels, with a range from a 3.0 million draw to a 1.7 million barrel build.
Total Distillates Production was off by 120,000 barrels per day to 4.98 million barrels per day.
Total Distillates Implied Demand was off by 170,000 barrels per day to 5.47 million barrels per day, but was supported by large Exports of 1.72 million barrels per day.
