EIA, Big Builds: Crude +6m, Dist +4.8m, Gasoline 0 EIA data, week ending 7/7
Crude oil: +5.9M
Domestic prod: 12.3MMbpd
SPR: -0.4M
Cushing: -1.6M
Gasoline: -0.0M
Impld mogas demand: 8.76Mbpd
Distillates: +4.8M
Refiner utilz: 93.7%
Total exports: 9.18MMbpd 
Crude, gasoline, distillates:
Adjustment factor up again:
Where did the surge in oil inventories come from? It didn't. It was all in some activist bureaucrat's excel spreadsheet: the DOE's weekly adjustment factor soared from 0 to 1.4mm. Every time there is a draw, the next week we see a spike in the "adjustment factor" Crude build this week came from the big dip in crude exports. It’s temporary. EIA reports a 6m bbl increase in #crudeoil stockpiles with import and exports both lower, leaving the net up by 0.6mbp. #gasoline unch and distillates up 4.8m bbl. Production adj lower by 0.1mbd while refinery demand rose but remains below last year on a seasonal level. Some 0.4m bbl left SPR EIA chart:
Following holidays, implied oil demand usually always drop. This will reverse next week. Implied gasoline demand (gasoline supplied) drops for the week:
Implied oil demand (crude supplied to refiners) drops:
EIA (wk ending 7 July) Crude: 5.946M Cushing: -1.605M Gasoline: -0.003M Distillates: 4.815M
US petroleum inventories (crude, SPR, refined products) rose by 16.575mb w/w to 1,624.895mb last week EIA US implied oil demand (product supplied) fell by 2.534mbpd w/w to 18.701mbpd last week w/w changes in kbpd gasoline -843 jet fuel -153 distillate -842 residual fuel oil -66 propane/propylene -528 other oils -103 EIA Crude 5.946MM, Exp. -50K Gasoline -4K Distillates +4.815MM Cushing -1.605MM Production 12.3mmm/d -100kb/d SPR drain: 401K