US crude oil stocks fell -2.70 million bbls last week, below expectations of a 390k bbls increase. Total stocks are down -4.4% YoY, down from a -2.3% YoY decline the week before.

• The SPR added 1.1 mil bbls last week, and its level is up 8.8% YoY.
• Gas stocks fell another -4.0 mil bbls, a larger than expected decline, and are down -0.7% YoY (prev 1.2% YoY).
• Domestic production was basically unchanged at 13.47 mil b/d, and the 4-week average is up 2.8% YoY.
• Net imports fell -662k b/d to just 2.04 mil b/d, and the 4-week average is lower by -24.6% YoY.
• Refinery inputs increased 189k b/d to 16.08 mil b/d, but the 4-week average is down -0.1% YoY.
• Total product supplied dropped 1.72 mil b/d to 19.15 mil b/d, and the 4-week average is now above a year ago by 0.3% (prev 0.4% YoY)