US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (11 Charts).
MAIN TAKEAWAYS
It is the perfect storm: a decrease in exports and lower refinery utilization! However, it is important to note that slow economic growth is still playing a role in limiting growth in oil demand.
It is clear by now that the sharp increase in imports two weeks ago was a one-time event and not a new trend.