DOE Insights
Wednesday May 16, 2018
Crude Oil Stocks Draw, Greater than Expectations
The DOE reported Total Crude Inventories decreased by 1.4 million barrels to 432.4 million barrels for the week ending May 11, 2018, expectations average was for a 400,000 barrels decrease, with a range of 3.5 million draw to a build of 3.0 million barrels.
Overall hydrocarbon supplies decreased by 700,000 barrels.
Crude Production was unchanged at 10.7 million barrels per day.
Total Crude Imports were up by 300,000 barrels per day to 7.6 million barrels per day.
Total Refinery Crude Runs were up by 100,000 barrels per day to 16.64 million barrels per day.
Gasoline Stocks Draw, Greater than Expectations
Total MotorGasoline Inventories decreased by 3.8 million barrels to 232.0 million barrels for the week ending May 11, 2018, average of expectations was for a draw of 1.2 million barrels, with a range of a draw of 3.0 million barrels to a build of 2.1 million barrels.
Implied Demand was up by 100,000 barrels per day at 11.70 million barrels per day.
Gasoline production was up by 490,000 barrels per day to 10.46 million barrels per day.
Distillates Stocks Draw, Less than Expectations
Total Distillates Stocks decreased by 100,000 barrels to 114.9 million barrels for the week ending May 11, 2018, average of expectations was for a draw of 1.4 million barrels, with a range from a 3.0 million draw to a 1.6 million barrel build.
Total Distillates Production was basically unchanged at 5.03 million barrels per day.
Total Distillates Implied Demand was down 540,000 barrels per day to 5.12 million barrels per day.
