US crude stocks fall 7.6m barrels, gasoline draws 2.9m : EIA

London (Quantum Commodity Intelligence) – US crude oil stocks fell 7.6 million barrels last week, compared to an expected draw of 4 million to 7 million, while gasoline stocks also fell 2.9 million barrels against an expected build of up to 0.8 million, barrels, EIA data showed Wednesday.

The change to gasoline inventories was down to a combination of a drop in domestic production, an increase to demand and a 0.27 million bpd jump in the country's net exports.

Crude imports were also higher by 0.2 million bpd in the week to June 18, while exports dropped 0.23 million bpd, placing an additional 3.01 million barrels from trade into inventories compared to the prior week.

Products exports were 0.26 million barrels per day (bpd) lower, or 1.82 million barrels over the week, at 5.5 million bpd, or 38.5 million barrels total.

Key stock figures (million barrels)

Commercial crude and product stocks: 1907 m barrels, -7.5 m barrels on week.

Commercial crude stocks: 459 m barrels, -7.6 m barrels on week.

Strategic crude stocks: 624 m barrels, -1.7 m barrels on week.

Gasoline stocks: 240 m barrels, -2.9 m barrels on week.

Middle distillate stocks: 138 m barrels, +1.8 m barrels on week.

Jet stocks: 45 m barrels, -0.4 m barrels on week.

Diesel stocks: 125 m barrels, +1.8 m barrels on week.

Residual fuel stocks: 32 m barrels, 0.0 m barrels on week.

Propane/propylene stocks: 56 m barrels, +1.0 m barrels on week.

Ethanol stocks: 21 m barrels, +0.5 m barrels on week.

Key demand figures (million barrels per day)

Total oil products: 20.8 million bpd, +0.18 million bpd on week.

Gasoline: 9.4 million bpd, +0.08 million bpd on week.

Jet: 1.6 million bpd, +0.33 million bpd on week.

Middle distillates: 3.9 million bpd, -0.39 million bpd on week.

Residual fuels: 0.3 million bpd, -0.04 million bpd on week.

Propane/propylene: 1.0 million bpd, +0.31 million bpd on week.

Key production and trade figures (million barrels per day)
Crude production: 11.1 million bpd, -0.1 million bpd on week.

Crude imports: 6.9 million bpd, +0.2 million bpd on week.

Crude exports: 3.7 million bpd, -0.23 million bpd on week.

Product imports: 2.9 million bpd, 0.0 million bpd on week.

Product exports: 5.5 million bpd, -0.26 million bpd on week.

Key refining figures (million barrels per day)

Net crude input into refineries: 16.1 million bpd, -0.22 million bpd on week.

Utilisation: 92.2%, -0.4% point on week.

Finished gasoline output: 10.1 million bpd, +0.18 million bpd on week.

Jet output: 1.4 million bpd, +0.02 million bpd on week.

Middle distillates output: 5.1 million bpd, +0.06 million bpd on week.

Diesel output: 4.8 million bpd, 0.0 million bpd on week.

Fuel oil output: 0.2 million bpd, +0.01 million bpd on week.