According to the DOE/EIA weekly report, total crude oil and petroleum products stocks climbed +2.60 mmb to 1102.14 mmb in the week ended June 22. Crude stockpile decreased -0.13 mmb to 387.17 mmb as stockpiles dropped 4 out of 5 PADDs. Cushing stock slipped -0.34 mmb to 47.42 mmb. Utilization rate added +0.7% to 92.6%.
Gasoline inventory climbed +2.08 mmb to 204.82 mmb as demand gained +1.76% to 8.85M bpd. Production rose +2.86% to 9.28M bpd while imports dropped -21.79% to 0.77M bpd. Distillate inventory fell -2.28 mmb to 118.85 mmb as demand soared +9.19% to 3.83M bpd. Imports jumped +34.33% to 0.90M bpd while production slid -4.08% to 4.52M bpd during the week.
| Weekly change in inventory as of 22/06/12 | Actual | Change | Consensus | Previous |
| Crude oil | 387.17 mmb | -0.13 mmb | -1.30 mmb | +2.86 mmb |
| Gasoline | 204.82mmb | -2.99 mmb | +1.00 mmb | +3.05 mmb |
| Distillate | 118.85 mmb | -2.28 mmb | -0.51 mmb | +1.16 mmb |
Comparison between API and EIA reports:
| API (Jun 22) | EIA (Jun 22) | |||||
| Actual | Inventory | Previous | Forecast (using API's inventory level) | Inventory | ||
| Crude oil | +0.51 mmb | 385.65 mmb | -0.55 mmb | -1.65 mmb | 386 mmb | |
| Gasoline | +0.37 mmb | 205.28 mmb | +1.57 mmb | +2.53 mmb | 205 mmb | |
| Distillate | -1.02 mmb | 119.77 mmb | -0.27 mmb | -1.36 mmb | 120 mmb |
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