In West and South. Happens once in 4-5 weeks.
Exports were inline, adjustments fell more than I modeled due to the jump in imports that haven't fully unloaded yet.
1.1 mm bpd higher imports than I modeled partially offset by 425K bpd lower adjustments resulted in the difference.
The market seems is shrugging off this report as impacted by temporary imports.
Product stocks didn't rise which is good news.
Gasoline stocks fell by 0.1mm, distillate - by 1.3 mm, jet fuels rose by 0.6 mm bbl.
Refiners have balanced the market according to current demand.
Next week imports will plunge back to 6 mm bpd I guess while exports to return back up to 3.2 mm bpd.
Adjustments will partially compensate returning back up to 700K bpd.
Production and refinery input should be flat
Overall I expect crude draw 7.7 mm bbl next week