On Wednesday (28), the Department of Energy (DoE) reported that oil inventories in the United States had growth of 4.32 million barrels, to 492.427 million barrels, in the week ended October 23.
Gasoline inventories fell 892,000 barrels to 226.124 million barrels, with the expectation of a 400,000 barrel fall. Distillates were down 4.491 million barrels to 156.228 million barrels, against a forecast of a drop of 2 million barrels. The rate of refinery utilization increased from 72.9% in the week before 74.6% in the most recent. The forecast, in this case, was 73.6%. Oil inventories in Cushing fell 422,000 barrels to 59.995 million barrels.
According to the DoE, average daily production increased from 9.9 million barrels in the week prior to 11.1 million barrels in the most recent.