DOE Insights
Wednesday, June 13, 2018
Crude Oil Stocks Draw, Greater than Expectations
The DOE reported Total Crude Oil Inventories decreased by 4.1 million barrels to 432.4 million barrels for the week ending June 8, 2018, expectations average was for a 1.6 million barrel decrease, with a range of 4.7 million draw to a 1.5 million barrel build.
Overall hydrocarbon supplies decreased by 1.8 million barrels to 1,208 million barrels.
Crude Oil Production increased by 100,000 barrels per day to a record 10.90 million barrels per day.
Total Crude Imports were off 200,000 barrels per day to 8.1 million barrels per day.
Total Refinery Crude Runs were up by 140,000 barrels per day to 17.51 million barrels per day.
Gasoline Stocks Draw, Expectations were for a Build
Total MotorGasoline Inventories decreased by 2.3 million barrels to 236.8 million barrels for the week ending June 8, 2018, average of expectations was for a build of 700,000 barrels, with a range of a 1.6 million barrel draw to a 3.3 million barrel build.
Implied Demand was up by 1.82 million barrels per day at 11.60 million barrels per day.
Gasoline Production was also up, by 790,000 barrel per day to 10.45 million barrels per day.
Distillates Stocks Decrease, Expectations were for a Build
Total Distillates Stocks decreased by 2.1 million barrels to 114.7 million barrels for the week ending June 8, 2018, average of expectations was for a build of 400,000 barrels, with a range of a draw of 1.5 million barrels to a build of 2.5 million barrels.
Total Distillates Production was off by 210,000 barrels to 5.11 million barrels per day.
Total Distillates Implied Demand was up by 350,000 barrels per day to 5.52 million barrels per day.
