# U.S. oil inventories dip, but gasoline builds amid weak demand: EIA By Reuters

> The EIA reported that US crude stockpiles fell by 930,000 barrels in the week to April 28, far less than the 2.3 million-barrel draw analysts expected. Gasoline inventories rose by 191,000 barrels, below a Reuters poll forecast of a 1.3 million-barrel gain, amid weak demand. US crude production rose to 9.29 million barrels per day, its highest since August 2015.

- Date: 2017-05-03 · published 2017-05-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10016-u-s-oil-inventories-dip-but-gasoline-builds-amid-weak-demand-eia-by-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A smaller-than-expected crude draw and rising US output pressure crude prices, which lowers the cost of fuel and biofuel feedstocks. Weak gasoline demand also points to softer refinery margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-02 | [Oil drops 3% to one-month low on weak U.S. gasoline demand](https://feedsoft.ai/events/10228-oil-drops-3-to-one-month-low-on-weak-u-s-gasoline-demand.md) | -11.0% | -6.2% |
| WTI | 2020-09-10 | [Oil prices dip as inventory builds](https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds.md) | +5.6% | +4.8% |
| WTI | 2019-10-01 | [Oil slides 2.5% as US inventories build, weak economic data weighs](https://feedsoft.ai/events/56752-oil-slides-2-5-as-us-inventories-build-weak-economic-data-weighs.md) | -2.5% | +2.9% |
| WTI | 2023-10-04 | [Oil settles down more than $5 as US data shows weak demand for gasoline](https://feedsoft.ai/events/7361-oil-settles-down-more-than-5-as-us-data-shows-weak-demand-for-gasoline.md) | -3.7% | -8.8% |
| WTI | 2021-03-18 | [Oil Markets: U.S. stockpile build, demand worries](https://feedsoft.ai/events/6201-oil-markets-u-s-stockpile-build-demand-worries.md) | -5.3% | -1.8% |
| BRENT | 2020-09-02 | [Oil drops 3% to one-month low on weak U.S. gasoline demand](https://feedsoft.ai/events/10228-oil-drops-3-to-one-month-low-on-weak-u-s-gasoline-demand.md) | -14.2% | -10.9% |
| BRENT | 2020-09-10 | [Oil prices dip as inventory builds](https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds.md) | +3.3% | +2.3% |
| BRENT | 2019-10-01 | [Oil slides 2.5% as US inventories build, weak economic data weighs](https://feedsoft.ai/events/56752-oil-slides-2-5-as-us-inventories-build-weak-economic-data-weighs.md) | -3.3% | +0.2% |

## Sources

- investing.com: https://www.investing.com/news/commodities-news/u.s.-oil-stocks-fall-slightly,-gasoline-inventories-up:-eia-479790

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.