DOE Insights
Wednesday, May 2, 2018
Crude Oil Stocks Build, Greater Than Expectations
The DOE reported Total Crude Inventories increased by 6.2 million barrels to 436.0 million barrels for the week ending April 27, 2018, expectations average was for a build of .7 million barrels, with a range of 2.8 million draw to a build of 3.5 million barrels.
Overall hydrocarbon supplies increased by 5.4 million barrels.
Crude Production was basically unchanged at 10.6 million barrels per day.
Total Crude Imports were unchanged at 8.5 million barrels per day.
Total Refinery Crude Runs were off by 60,000 barrels per day to 16.56 million barrels per day.
Gasoline Stocks Build, Expectations were for a Draw
Total MotorGasoline Inventories increased by 1.2 million barrels to 238.0 million barrels for the week ending April 27, 2018, average of expectations was for a draw of 1million barrels, with a range of a draw of 1.6 million barrels to a build of .5 million barrels.
Implied Demand was off by 60,000 barrels per day at 10.80 million barrels per day.
Gasoline production was up by 160,000 barrels per day to 10.05 million barrels per day.
Distillates Stocks Draw, Expectations for a Build
Total Distillates Stocks decreased by 3.9 million barrels to 118.8 million barrels for the week ending April 27, 2018, average of expectations was for a build of .3 million barrels, with a range from a 1.0 million draw to a 1.0 million barrel build.
Total Distillates Production was up 20,000 barrels per day to 5.00 million barrels per day.
Total Distillates Implied Demand was up 160,000 barrels per day to 5.63 million barrels per day.
