DOE Insights
Wednesday, May 9, 2018
Crude Oil Stocks Draw, Expectations were No Change
The DOE reported Total Crude Inventories decreased by 2.2 million barrels to 433.8 million barrels for the week ending May 4, 2018, expectations average was for no change in stocks, with a range of 3.0 million draw to a build of 3.0 million barrels.
Overall hydrocarbon supplies decreased by 1.5 million barrels.
Crude Production was up by 100,000 barrels per day to 10.7 million barrels per day.
Total Crude Imports were down 1.2 million barrels per day to 7.3 million barrels per day.
Total Refinery Crude Runs were off by 100,000 barrels per day to 16.49 million barrels per day.
Gasoline Stocks Draw, Greater than Expectations
Total MotorGasoline Inventories decreased by 2.2 million barrels to 235.8 million barrels for the week ending May 4, 2018, average of expectations was for a draw of 400,00 barrels, with a range of a draw of 2.0 million barrels to a build of 1.5 million barrels.
Implied Demand was up by 90,000 barrels per day at 11.10 million barrels per day.
Gasoline production was off by 70,000 barrels per day to 9.97 million barrels per day.
Distillates Stocks Draw, Greater than Expectations
Total Distillates Stocks decreased by 3.8 million barrels to 115.0 million barrels for the week ending May 4, 2018, average of expectations was for a draw of 1.4 million barrels, with a range from a 2.7 million draw to a .3 million barrel build.
Total Distillates Production was unchanged at 5.00 million barrels per day.
Total Distillates Implied Demand was up 30,000 barrels per day to 5.66 million barrels per day.
