After a climb in production last week, gasoline production dropped 4.2% WoW to 9,681t bbl/d, according to the DOE Petroleum figures this week. Gasoline stocks dropped 363t bbl, a much smaller draw than last week, indicating a considerable drop in demand, with an implied demand of 10,291t bbl/d. There was a slight drop in ethanol production of 8t bbl/d, down 0.8% WoW. This was matched with a build on ethanol stocks of 89t bbl, pointing to a significant fall in ethanol demand.
There was a draw from crude of 4,203t bbl with another slump in production to 9,413Mbbl/d, down 1.5% WoW. Distillates demand appears to be rising, with a build on stocks of 2,588t Mbbl, and rise in production to 5,096t bbl/d, up 0.5% WoW.