RE:Oil Inventory headline the completer picture...dwdc
For gasoline, the agency estimated an inventory increased 3.3 million barrels in the week ending July 12, with production at 9.5 million barrels daily. Gasoline inventories are now slightly over the five-year average for this time of year.
In middle distillates, the authority estimated an inventory build of 3.5 million barrels for the week to July 5, with production rising to an average of 5.2 million barrels daily—a figure that is 7% below the five year average.