The latest Platts survey is looking for a 2.65 million barrel crude oil stock build, a 2.0 million barrel draw in gasoline supplies, and a 1.2 million barrel decline in distillate inventories for the week ending March 26.  Our cursory cut at the numbers would suggest that in terms of crude oil, refinery runs likely moved up modestly from the prior week, while gross imports eased back closer to what we estimate to be the underlying trend.  Assuming domestic crude oil production modestly in excess of 5.5 MMB/D, the arithmetic would suggest a crude oil stock build somewhat shy of what the market is looking for.  In terms of products, implied gasoline demand is estimated to have eased a bit from the previous week’s average of almost 9.1 MMB/D.

Tags: api inventory crude oil and refined products, Crude oil Inventories API, platts energy inventory survey, Platts oil inventory assessment