Weekly US energy stocks and data production
Before there was + 4580K
Gasoline -8430K vs-2100K exp
The lower the inventory level since at least 1980
Distillat -3220K vs-1500K exp
Refinery utilization rate -2.0% to 77.7%
Production of + 6.5%
Production 9.353 mbpd vs. 8.781 mbpd before
Production was almost back to pre-Harvey levels
Since I was questioned about this, the rebound in production has been fully awaited. It happens every time there is a hurricane. Offshore platforms, closed due to the storm and returned online subsequently. Here is a graph showing the production of the united states (mbpd).
API figures released yesterday:
Gross + 6181K
Cushing + 1320K
My conjecture is that the high demand for gasoline is the great story here. Many people were jostling to fill due to the frequency of hurricanes.