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OIL: US Crude Stocks Seen Down 5.8m bbl Last Week: Macquarie

OIL
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US crude oil inventories are expected to have fallen by 5.8m bbl in the week to Nov. 22, according to a note by Macquarie, cited by Bloomberg.

  • Macquarie forecast a large drop in net imports, with exports falling by 0.3m b/d and imports down 1.9m b/d.
  • Gasoline inventories are expected to have fallen by 1.3m bbl.
  • Distillate and jet fuel inventories are seen flat on the week.
  • Combined implied product demand for gasoline, diesel, and jet fuel is seen at 14.4m b/d.
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US crude oil inventories are expected to have fallen by 5.8m bbl in the week to Nov. 22, according to a note by Macquarie, cited by Bloomberg.

  • Macquarie forecast a large drop in net imports, with exports falling by 0.3m b/d and imports down 1.9m b/d.
  • Gasoline inventories are expected to have fallen by 1.3m bbl.
  • Distillate and jet fuel inventories are seen flat on the week.
  • Combined implied product demand for gasoline, diesel, and jet fuel is seen at 14.4m b/d.