U.S. Department of Energy: Petroleum product exports hit a record high for two consecutive weeks

Last week, EIA Cushing crude oil inventories decreased by 648,000 barrels, compared to a previous decline of 796,000 barrels. Last week, gasoline inventories of refined oil products dropped by 2.504 million barrels, compared to a previous reduction of 6.075 million barrels; distillate inventories fell by 1.294 million barrels, marking a new low since April 2005, with a previous decrease of 4.494 million barrels. Refinery equipment utilization rate last week was 90.1%, compared to 89.6% previously. Strategic Petroleum Reserve (SPR) declined by 5.224 million barrels last week, versus a previous decrease of 7.121 million barrels. Petroleum product exports increased by 483,000 barrels per day last week, reaching 8.224 million barrels per day, surpassing the previous week's record high of 8.083 million barrels per day.