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US EIA weekly oil inventories 2256k vs -2500k exp
US EIA weekly oil inventory data week ending 16 December 2016
Prior -2563k
Cushing -245k vs 700k exp. Prior 1223k
Gasoline -1309k vs 1375k exp. Prior 497k
Distillate -2420k vs -1625k exp. Prior -762k
Production 8.786m vs 8.797m prior
Refinery utilisation 1.0% vs 0.33% exp. Prior 0.1%
That’s caught the market on the hop as last night’s private data showed a bigger draw than expected. WTI took a swan dive down to 52.93 from around 52.40 but has recovered to 53.21.
Production fell a touch too and that’s now 3 on the trot.
US oil production
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