RE:EIA Crude +1.6, Gasoline +1.8, Dist +5.2The weekly EIA report used to be a simple, quick report to go through.
Here's how i read this week's report.....
(all numbers in Mbbls/day)
Domestic Production 13.200
plus Imports 5.833
= 19.033 M/bbls/day
less Exports 4.755
less Crude sent 16.022
to Refineries
= - 1.744
add adjustment 1.287
= - 0.457 Mbbls/day
X 7 days = - 3.199 Mbbls draw for the week
So should have been a draw for the week of 3.2 M bbls
Now you have this other number (that was not there before), "Transfer to Crude Oil Supply" for 732k bbls/day (thats 5.12M bbls for the week) that not only wipes out your deficit of -3.2M bbls for the week, puts you in a surplus of 1.9M bbls for the week.
If you look at the report, that number did not exist in theyear ago comparable period or for the 4-week avgs for this week's end date for 2022 & 2023.