|U.S. Energy Information Administration (EIA) data for the week ended December 30, 2016|
Crude -7051K vs exp Draw -1715k Prior+614k API -7400k
Cushing +1070k vs exp Build +530k Prior+172k API +482k
Gasoline +8307K vs exp Build+1700k Prior -1593K API +4250k
Distillate +10,051K vs exp Build +2125k Prior -1881K API +5240k
Refinery utilization +1.0% vs exp +0.5% Prior -0.50%
Weekly production +0.004 mbpd to 8.770 mbpd, currently -0.449 mbpd lower YOY
Imports 7.18 -.984
Note in in bbls *exp = Reuters poll est except Cushing
View Prev Week Report & Analysis (http://traderscommunity.com/forum/index.php?topic=1014.0).
The American Petroleum Institute late Wednesday reported a much bigger-than-expected drop of 7.4 million barrels in U.S. crude supplies for the week ended Dec. 30, according to sources. Analysts polled by S&P Global Platts forecast a stockpile decline of 1.7 million barrels. Supply data from the Energy Information Administration will be released Thursday morning, a day late due to the New Year's Day holiday. February crude CLG7, +1.80% was at $53.30 a barrel in electronic trading, up from the contract’s settlement of $53.26 on the New York Mercantile Exchange.
Summary of Weekly Petroleum Data for the Week Ending December 30, 2016
U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week
ending December 30, 2016, 132,000 barrels per day more than the previous week’s
average. Refineries operated at 92.0% of their operable capacity last week. Gasoline
production decreased last week, averaging about 9.5 million barrels per day. Distillate
fuel production increased last week, averaging over 5.3 million barrels per day.
U.S. crude oil imports averaged 7.2 million barrels per day last week, down by 984,000
barrels per day from the previous week. Over the last four weeks, crude oil imports
averaged 7.8 million barrels per day, 0.5% above the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending
components) last week averaged 722,000 barrels per day. Distillate fuel imports averaged
99,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) decreased by 7.1 million barrels from the previous week. At 479.0 million
barrels, U.S. crude oil inventories are near the upper limit of the average range for this
time of year. Total motor gasoline inventories increased by 8.3 million barrels last week,
and are near the upper limit of the average range. Both finished gasoline inventories and
blending components inventories increased last week. Distillate fuel inventories increased
by 10.1 million barrels last week and are above the upper limit of the average range for
this time of year. Propane/propylene inventories fell 2.7 million barrels last week but are
in the upper half of the average range. Total commercial petroleum inventories increased
by 6.1 million barrels last week.
Total products supplied over the last four-week period averaged 19.6 million barrels per
day, down by 0.5% from the same period last year. Over the last four weeks, motor
gasoline product supplied averaged 9.0 million barrels per day, down by 0.2% from the
same period last year. Distillate fuel product supplied averaged over 3.8 million barrels
per day over the last four weeks, up by 8.1% from the same period last year. Jet fuel
product supplied is up 4.0% compared to the same four-week period last year.