DOE Insights
Thursday May 31, 2018
Crude Oil Stocks Draw, Greater Than Expectations
The DOE reported Total Crude Oil Inventories decreased by 3.6 million barrels to 434.5 million barrels for the week ending May 25, 2018, expectations average was for a 600,000 barrel decrease.
Overall hydrocarbon supplies increased by 1.8 million barrels.
Crude Oil Production increased by 44,000 barrels to 10.77 million barrels per day.
Total Crude Imports were up by 600,000 barrels per day to 7.6 million barrels per day.
Total Refinery Crude Runs were up by 500,000 barrels per day to 17.16 million barrels per day.
(See charts below.)
Gasoline Stocks Build, Expectations were for a Draw
Total MotorGasoline Inventories increased by .5 million barrels to 234.4 million barrels for the week ending May 25, 2018, average expectations was for a draw of 1.5 million barrels.
Implied Demand was up by 130,000 barrels per day at 11.3 barrels per day.
Gasoline Production was up by 380,000 barrels per day to 10.43 million barrels per day.
Distillates Stocks Build, Expectations were for a Draw
Total Distillates Stocks increased by 600,000 barrels to 114.6 million barrels for the week ending in May 25, 2018, average of expectations was for a draw of 1.1 million barrels. Stocks remain at record lows. Cracks should be supported.
Total Distillates Production was up 360,000 barrels to 5.30 million barrels per day.
Total Distillates Implied Demand was up 340,000 barrels per day to 5.44 million barrels per day.
