EIA report makes no senseThis EIA report doesn't make any sense , it says refinery inputs are down (running at 86%) but both gasoline and distillate production is up ???? How does that work ? Less in should mean less out , not more .
Crude oil imports averaged 6.7 million barrels over the past 4 weeks , that equals 187.6 million barrels of crude imported over the past 4 weeks . The 180 million SPR barrels released were over a 7 months , so is there any wonder inventories are increasing ?
Gasoline inventories were down 1.9 million barrels and remain 5% below average , distillates increased but also remain 12% below normal so demand is still strong . A lot of double talk in that report but what else would you expect ?