US gasoline consumption (implied) averaged 9.7 million b/d over last 4 wks, seasonal record, and up +173,000 on 2015 -- sets new record
US distillate consumption averaged 3.8 million b/d over last 4 weeks, very close to 2015 and 10yr avg levels
US distillate stocks adjusted for consumption continue to fall rather than rise as oversupply worked down
US distillate stocks fell -1.8 million bbl to 151 million bbl last week, just +14.7 million bbl (+10.8%) above 2015
US refinery throughput rose +190,000 b/d to a new seasonal record of 16.695 million b/d (up +164,000 b/d on 2015). It would be interesting to know how much of this is related to a) the French refinery strikes; and, b) the Venezuela debacle.
US gasoline stocks adjusted for consumption edged up to 24.6 days, versus 22.7 days in 2015 and 10yr avg 22.9 days.
US gasoline stocks rose +1.4 million bbl to 239 million bbl, and now +22 million bbl (+10%) over 2015 level -- by the way, a new graph is needed -- the current numbers are practically off the historical graph.
US crude oil imports returned to more normal 7.6 million b/d last week from the elevated 8.4 million b/d in prior week.
US commercial crude oil stocks fell -4.1 million bbl to 527 million bbl last week, but a new graphis still needed. Current data is almost off the historical graph
US commercial crude stocks fell more heavily than usual with YoY surplus down from +68 million to +61 million bbl