The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out of 5 PADDs. PADD 3 (Gulf Coast) saw declines of -5.64 mmb. Cushing stock slipped -0.78 mmb to 45.54 mmb. Utilization rate increased +1.7 percentage points to 88.7% while crude production slipped -0.2M bpd to 10.8M bpd for the week. Crude oil imports decreased -0.64M bpd to 5.63M bpd in the week.