Weekly oil supply and production data from the EIA
– Prior was +2276K
– Imports fell 1.85 million barrels per day
– Gasoline -4211K vs -750K exp
– Distillates +3382 vs +1150K exp
That’s the second-largest drawdown on record. It was largely due to an 8.7 million draw in PADD3, which is on the Gulf coast so expect a rebound.
