Weekly US Oil Inventory Report
Summary of this week's US Petroleum Status Report for the week ending June 30, 2017:
- Commercial crude oil stockpiles declined 6.3 million barrels last week, on drawdowns in all five PAD districts.
- Another 400,000 barrels were sold out of Strategic Petroleum Reserves (SPR).
- Crude exports and refinery runs increased last week while imports fell.
- Production also rose 88,000 bbl/day, reversing declines from the previous week.
- Imports of Canadian crude rebounded sharply, bringing the 4-week average to 3.2 million bbl/day.
- Gasoline inventories also declined 3.7 million barrels while distillate stockpiles fell 1.9 million.
- Total products consumed hit a record high of 22.2 million bbl/day.