According to the DOE/EIA weekly report, total crude oil and petroleum products stocks gained +5.50 mmb to 1080.52 mmb in the week ended May 25. Crude stockpile increased +2.21 mmb to 384.74 mmb as stockpiles 4 out of 5 PADDs. Cushing stock alone added +0.05 mmb to 46.85 mmb. Utilization rate added +1.0% to 89.1%.

Gasoline inventory slipped -0.83 mmb to 200.18 mmb as demand gained +3.45% to 8.93M bpd. Production added +2.33% to 9.15M bpd while imports soared +38.43% to 0.80M bpd. Distillate inventory plunged -1.71 mmb to 117.78 mmb as demand rose +6.98%% to 3.86M bpd. Imports plunged -42.74% to 0.07M bpd while production climbed +2.33% to 4.61M bpd during the week.

Weekly change in inventory as of 25/05/12 ActualChangeConsensusPrevious
Crude oil 384.74 mmb+2.21 mmb+1.70 mmb+0.88 mmb
Gasoline 200.18 mmb-0.83 mmb-0.65 mmb-3.30 mmb
Distillate 117.78 mmb-1.71 mmb-0.50 mmb-0.31 mmb

Comparison between API and EIA reports:

       

  API (May 25)   EIA (May 25) 
 ActualInventoryPrevious Forecast (using API's inventory level)Inventory
Crude oil-0.35 mmb386.22 mmb+1.48 mmb +4.58 mmb386mmb
Gasoline+2.06 mmb200.76 mmb-4.52 mmb -3.56 mmb201 mmb
Distillate-1.32 mmb120.05 mmb-0.24 mmb +0.24 mmb120 mmb

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