Weekly Petroleum Status Report: Week of February 28th
Crude oil stocks increased 3.4 million bbls last week, well above estimates of a 900k bbls build. Stocks are still down -3.3% YoY.
- Gas stocks fell -1.4 million bbls but were up 3.0% YoY, a slightly larger draw than expected.
- Domestic production edged up 6k b/d to 13.51 million b/d, and the 4-week average was up 1.7% YoY.
- Net imports was broadly unchanged at 1.68 million b/d, and the 4-week average was down -10.0% YoY.
- Refinery inputs were down -346k b/d to 15.39 million b/d but still above where they were a year ago.
- Product supplied fell slightly to 20.54 million b/d, but the 4-week average was still up 3.4% YoY with gas supplied up 0.9% YoY.