U.S. crude oil refinery inputs averaged 16.3 million barrels per day during the week ending June 11, 2021 which was 412,000 barrels per day more than the previous week’s average. Refineries operated at 92.6% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day. U.S. crude oil imports averaged 6.7 million barrels per day last week, up by 108,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million barrels per ... (full story)

Oil prices round-tripped overnight after a big crude draw (reported by API), along with fuel sales in India showing signs of recovery, sparked a push for $73 for WTI. "Demand growth is outpacing supply and will continue to do so over the coming months," said Stephen Brennock of oil broker PVM, adding that "ongoing efforts to revive the Iranian nuclear deal have so far failed to bear any fruits." Global oil demand will get back to pre-pandemic levels late next year, according to the International Energy Agency. If DOE confirms API's data, this will be the biggest crude draw since January.... API • Crude -8.537mm ... (full story)