Forecast: oil to increase by 3 million bbls; actual: 2.6 million bbls.
Forecast: gasoline to increase by 1.75 million bbls; actual: 1.7 million bbls, just one percent more than this time last year.
But this is the good part. Gasoline demand rose -- and distillate supplies dropped --
Demand for gasoline over the four weeks ended February 1 was 4.7 percent higher than a year earlier, averaging 8.4 million barrels a day.This is all background noise, but certainly doesn't point to a worsening economy.
Supplies of distillate fuel, which include diesel and heating oil, decreased by 1 million barrels to 129.6 million barrels. Analysts expected distillate stocks to decline by 750,000 barrels.
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