According to the DOE/EIA weekly report, total crude oil and petroleum products stocks rose +4.17 mmb to 1059.64 mmb in the week ended February 3. Crude stockpile increased +0.30 mmb to 339.25 mmb as stocks gained in 4 out of 5 PADDs. Cushing stock added +0.37 mmb to 30.49 mmb. Utilization rate increased +1.0% to 82.8%.

Gasoline inventory gained +1.63 mmb to 231.78 mmb as demand increased +0.26% to 8.04M bpd. Production climbed +0.75% to 8.63M bpd while imports slipped -31.58% to 0.72M bpd. Distillate inventory soared +1.17 mmb to 146.58 mmb as demand dropped -8.03% to 3.44M bpd. Imports declined -42.19% to 0.11M bpd while production dropped -0.71% to 4.49M bpd during the week.