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|