2025-09-22 01:00Summary 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 - Crude oil inventories decreased by 9.2 million barrels (Mb), significantly more than the consensus estimate of a 0.9 Mb draw and the 5-year average draw of 2.7 Mb [1] - API data indicated a draw of 3.4 Mb [1] - Net crude imports fell by 3.1 million barrels per day (Mb/d) week-over-week [1] - Crude oil production slightly decreased by 13 thousand barrels per day (kb/d) to 13.5 Mb/d [1] Refinery Utilization - Refinery utilization decreased by 160 basis points (bps) week-over-week to 93.3% of operable capacity, compared to a consensus decrease of 40 bps [1] Product Demand - Implied oil products consumption increased by 0.9 Mb/d week-over-week to 20.6 Mb/d, reversing the previous week's decline [2] - Gasoline consumption led the increase, rising by 0.3 Mb/d [2] - Total demand on a 4-week average increased by 2% week-over-week, reaching 20.7 Mb/d [2] Product Stocks - Total product inventories rose by 10.5 Mb week-over-week to 867 Mb [3] - The increase was primarily driven by "Others" (+7.5 Mb), followed by distillate (+4.0 Mb) and propane (+1.3 Mb) [3] - Gasoline stocks fell by 2.3 Mb, contrary to the consensus expectation of an increase of 0.1 Mb [3] Detailed Inventory Data - Crude oil production was reported at 13,482 kb/d, with a week-over-week change of -13 kb/d [4] - Crude oil imports were 5,692 kb/d, down 579 kb/d [4] - Exports increased significantly by 2,532 kb/d to 5,277 kb/d [4] - Total crude oil stocks were reported at 415.4 Mb, down 9.3 Mb [4] Market Implications - The significant draw in crude oil inventories and the increase in product demand suggest a tightening market, which could lead to upward pressure on oil prices [1][2][3] - The decrease in refinery utilization may indicate a cautious approach by refiners in response to fluctuating demand and inventory levels [1] Additional Insights - The report highlights the volatility in product stocks, particularly the unexpected decline in gasoline inventories, which could impact pricing and supply strategies moving forward [3] - The data reflects broader trends in the oil market, including shifts in consumer behavior and potential geopolitical influences on supply and demand dynamics [2][3] This summary encapsulates the critical data and insights from the weekly oil report, providing a comprehensive overview of the current state of the oil industry in the United States.