According to the DOE/EIA weekly report, total crude oil and petroleum products stocks climbed +1.10 mmb to 1088.47 mmb in the week ended June 8. Crude stockpile decreased -0.19 mmb to 384.44 mmb as stockpiles dropped 3 out of 5 PADDs. Cushing stock fell -0.38 mmb to 47.40 mmb. Utilization rate climbed +1.0% to 92.0%.
Gasoline inventory slipped -1.72 mmb to 201.80 mmb as demand gained +5.57% to 9.13M bpd. Production gained +5.47% to 9.55M bpd while imports fell -18.18% to 0.68M bpd. Distillate inventory dipped -0.06 mmb to 119.97 mmb as demand rose +9.06% to 3.69M bpd. Imports slipped -33.67% to 0.07M bpd while production climbed +1.01% to 4.72M bpd during the week.
| Weekly change in inventory as of 0806/12 | Actual | Change | Consensus | Previous |
| Crude oil | 384.44 mmb | -1.50 mmb | -0.50 mmb | -0.11 mmb |
| Gasoline | 201.80 mmb | +1.40 mmb | +0.95 mmb | +3.35 mmb |
| Distillate | 119.97 mmb | +1.20 mmb | +0.25 mmb | +2.25 mmb |
Comparison between API and EIA reports:
| API (Jun 08) | EIA (Jun 08) | |||||
| Actual | Inventory | Previous | Forecast (using API's inventory level) | Inventory | ||
| Crude oil | +1.60 mmb | 385.70 mmb | -1.77 mmb | -0.64 mmb | 384 mmb | |
| Gasoline | -0.88 mmb | 203.34 mmb | +1.40 mmb |
+4.04 mmb |
204 mmb | |
| Distillate | +0.52 mmb | 121.06 mmb | +1.82 mmb | +2.76 mmb | 121 mmb |
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