Weekly petroleum inventory and production data from the Department of Energy
- Prior was K
- Gasoline +908K vs +1050K expected
- Distillates +528K vs -1450K expected
- Refinery utilization -4.7% vs +0.5% expected
API data released yesterday:
- Crude -7030K
- Gasoline +1941K
- Distillates +1644K
- Cushing -0151K
Production:
- -11.3% w/w
- 8.406 mbpd vs 9.48 mpbd
That's a hefty production slowdown.
WTI fell initially but rebounded to $52.22 after the data, which is essentially unchanged from before the release.