According to the DOE/EIA weekly report, total crude oil and petroleum products stocks climbed +11.08 mmb to 1099.55 mmb in the week ended June 15. Crude stockpile increased +2.86 mmb to 387.30 mmb as stockpiles dropped 3 out of 5 PADDs. Cushing stock rose +0.36 mmb to 47.76 mmb. Utilization rate slipped -0.1% to 91.9%.
Gasoline inventory climbed +0.94 mmb to 202.74 mmb as demand slipped -4.79% to 8.86M bpd. Production dropped -5.54% to 9.02M bpd while imports rose +44.44%to 0.99M bpd. Distillate inventory rose +1.16 mmb to 121.13 mmb as demand dipped -4.88% to 3.51M bpd. Imports gained +3.08% to 0.67M bpd while production slid -0.17% to 4.71M bpd during the week.
|Weekly change in inventory as of 15/06/12||Actual||Change||Consensus||Previous|
|Crude oil||384.44 mmb||+2.86 mmb||-1.30 mmb||-1.50 mmb|
|Gasoline||201.80 mmb||+3.05 mmb||+1.00 mmb||+1.40 mmb|
|Distillate||119.97 mmb||+1.16 mmb||+1.00 mmb||+1.20 mmb|
Comparison between API and EIA reports:
|API (Jun 15)||EIA (Jun 15)|
|Actual||Inventory||Previous||Forecast (using API's inventory level)||Inventory|
|Crude oil||-0.55 mmb||385.15 mmb||+1.60 mmb||-0.64 mmb||384 mmb|
|Gasoline||+1.57 mmb||204.90 mmb||-0.88 mmb||+4.04 mmb||204 mmb|
|Distillate||-0.27 mmb||120.79 mmb||+0.52 mmb||+2.76 mmb||121 mmb|