Weekly Oil Data

Inventories, Exports, Imports, and Refinery Utilization

MAIN TAKEAWAYS

• The decline in oil inventories last week matches the decline during the same period in 2021

• There are questions on whether US refineries utilization could have maxed out.  This could become a serious problem next year.

• Gasoline inventories are approaching comfortable levels, while distillate inventories remain a concern.