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Title : US Crude Oil Inventories Dropped 7 Million Bbls -- Records Set -- January 18, 2018
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US Crude Oil Inventories Dropped 7 Million Bbls -- Records Set -- January 18, 2018

I'm being told that the 7-million-bbl draw is:

• a record;
• the most ever drawn from Cushing: and, 
• the largest drawdown ever. I guess I'm repeating myself.

The weekly petroleum report is here. The data points:

• US commercial crude oil inventories decreased by 6.9 million bbls; now at 412.7 million bbls, still in the middle of the average range for this time of the year
• refineries operated at 93% of their operable capacity last week
• total gasoline inventories increased by 3.6 million bbls
• distillate fuel inventories decreased by 3.9 million bbls (think heating oil in the northeast)
• jet fuel product supplied is up 8.7%

Re-balancing data pending.

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