Crude Inventory Slumped More than Expected
SondraHunterTotal crude oil and petroleum products stocks declined -5.25 mmb to 1078.08 mmb in the week ended September 16. Crude stockpile fell -7.34 mmb to 339.05 mmb as 3 out of 5 PADDs recorded stock draws. Cushing stock slipped -0.23 mmb to 32.00 mmb. Utilization rate added +1.3% to 88.3%. Gasoline inventory surprisingly surged +3.30 mmb to 214.08 mmb although demand +0.11% to 8.86M bpd. Imports soared +5.01% to 0.69M bpd while production fell -2.97% to 9.08M bpd.
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Crude Inventory Slumped More than Expected
