US Weekly Oil Data

US Inventories, Exports, Imports, and Refinery Utilization (11 Charts).

MAIN TAKEAWAYS

• Although crude oil inventories increased by more than the average expectations, they increased along historical trends. The draw in gasoline and distillate inventories also followed historical trends.

• Refinery utilization remained low around 81%.  Once the maintenance season is over, utilization will increase, demand for crude will increase, and inventories will start drawing. 

• The question for the rest of the year is: ًhat will happen to US crude exports? As long as exports are below 5 mb/d, US crude inventories will depend on US refinery utilization.

IN DETAIL