Summary of Weekly Oil Data Industry Overview - The report focuses on the oil industry, specifically crude oil and refined products in the United States. Key Points Crude Oil Inventory and Production - Crude oil inventories increased by 3.9 million barrels (Mb), contrary to the consensus expectation of a 1.0 Mb draw and the 5-year average build of 1.5 Mb [1] - Net crude imports rose by 0.7 Mb/d week-over-week, while production slightly increased by 72 thousand barrels per day (kb/d) to 13.5 Mb/d [1] - Refinery utilization improved by 60 basis points (bps) week-over-week to 94.9% of operable capacity, which was below the consensus estimate of a 60 bps decrease [1] Product Demand and Consumption - Implied oil products consumption fell by 0.9 Mb/d week-over-week to 19.8 Mb/d, primarily driven by a decline in gasoline consumption of 0.6 Mb/d [2] - Despite the weekly decline, total demand on a 4-week average basis increased by 2% week-over-week, reaching 20.9 Mb/d [2] Product Inventory Changes - Total product inventories rose by 11.5 Mb week-over-week to 857 Mb [3] - The largest build in product inventories was in distillate, which increased by 4.7 Mb, exceeding the consensus estimate of 35 kb [3] Detailed Inventory and Demand Data - Crude oil production was reported at 13,495 kb/d, with a week-over-week increase of 72 kb/d [4] - Gasoline production decreased by 246 kb/d to 9,243 kb/d, while middle distillate production saw a minor decrease of 24 kb/d to 5,229 kb/d [4] - Total crude oil stocks reached 425 Mb, with a week-over-week increase of 3.9 Mb [4] - The 5-year average for crude oil stocks is 438.7 Mb, indicating a slight increase of 1.5 Mb compared to the previous week [4] Additional Insights - The report indicates a bearish sentiment in the market due to the unexpected increase in crude oil inventories, which could impact pricing and investment strategies in the oil sector [1][2] - The increase in refinery utilization suggests a potential recovery in refining activities, which may lead to improved product availability in the coming weeks [1] Conclusion - The oil industry is currently experiencing a mixed scenario with rising inventories and fluctuating demand, which could present both opportunities and risks for investors. The unexpected inventory builds may lead to bearish market conditions, while increased refinery utilization could signal a recovery in product supply.
每周石油数据：原油和成品油库存均增加-Weekly Oil Data_ Stock builds in both crude and products