US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (11 Charts).
MAIN TAKEAWAY
Crude oil inventories are still following historical trends, but with higher than usual builds.
Weekly US demand continued to decline, indicating slower economic growth than expected. This was accentuated by the large build in gasoline and distillate inventories.
The rise in Cushing inventories proves our point that the decline a few weeks ago was hyped. (Figure 11)