The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slipped -0.23 mmb to 1283.59 mmb in the week ended May 14. Crude oil inventory increased +1.32 mmb (consensus: +1.68 mmb) to 486.01 mmb. Stockpile increased in 4 out of 5 PADDs. This was partly offset by the -2.45mmb withdrawal in PADD 5 (West Coast). Cushing stock dropped -0.14 mmb to 45.76 mmb. Utilization rate added +0.2 percentage point to 86.3% while crude production steadied at 11M bpd for the week. Crude oil imports increased +0.92M bpd to 6.41M bpd in the week.