US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (11 Charts).
MAIN TAKEAWAY
Crude oil inventories decreased, following historical trends, but the decrease was much higher than expectations.
Crude oil inventories are higher than that of last year for the same period by 17.6 mb. PADD 3 crude inventories declined by 11 mb as the year ends and companies try to avoid taxes. Cushing continued to build as well as the SPR.
Gasoline and distillate inventories changed marginally.
So far, US oil demand in 2023 remained lower than that of 2022.
IN DETAIL
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