US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (Two Tables and 9 Charts)
MAIN TAKEAWAY
The Energy Information Administration (EIA) reported a large build that exceeded expectations. The correlation between exports and changes in inventories started forming a trend.
The government added 1 mb of sour crude to SPR last week.
The adjustment shrank again last week. As we stated in the past, the problem is not only high adjustment but also the high level of fluctuations of the adjustment. Data deterioration in the energy markets is getting worse.