Weekly EIA Production Report -- January 5, 2023

Link here.

• US crude oil inventories increased by 1.7 million bbls; inventory at 420.6 million bbls now only 4% below the five-year average; while gasoline inventories are soaring and refiners were operating at less than 80% of their capacity
• US imports (yawn)
• US refiners operating at 79.6% of their operable capacity; this is a one-off due to Gulf coast refiners shut down during the polar vortex last week
• distillate inventories decreased by 1.4 million bbls; now 14% below the five-year average; again, this is a one-off
• finished gasoline inventories increased, while total motor gasoline inventories decreased by a paltry 0.3 million bbls 
• jet fuel product supplied was up 5.1% 
• gasoline demand will be posted later today