Jefferies-Energy Unexpected Crude Distillate Draw,Slightly Larger Than Expected Gasoline Draw-20250924
这篇研报讲什么？
摘要原文摘录Inventories drew overall this week, with combined crude oil, gasoline, anddistillate stocks decreasing ~3.37mn bbls vs the BBG median estimate of a~1.50mn bbls overall build.
机构观点归属Jefferies，研报雷达仅作摘要整理与机构观点聚合。以下为研报摘要原文摘录，内容以原始报告为准。
研报摘要
Inventories drew overall this week, with combined crude oil, gasoline, anddistillate stocks decreasing ~3.37mn bbls vs the BBG median estimate of a~1.50mn bbls overall build.
Please click [HERE] for full slides, graphically detailing the released data.
•Crude oil inventories drew ~0.61mn bbls vs the BBG median estimate of a ~0.5mn bbls build.
•Gasoline inventories drew ~1.08mn bbls vs the BBG median estimate of a ~1.00mn bbls draw.
•Distillate inventories drew ~1.69mn bbls vs the BBG median estimate of a ~2.0mn bbls build.
•Cushing crude stocks built ~0.18mn bbls to ~23.74mn bbls, up ~4% y/y.•Refinery runs increased ~52kpbd WoW to ~16.48mmpd, ~1% higher y/y.
•Implied crude oil demand decreased ~0.42mmbpd WoW to ~20.08mmbpd, in line with year-ago 3-wk moving avg.
•Implied gasoline demand increased ~77kbpd WoW to ~9.86mmbpd, ~2% above year-ago 3-wk moving avg.
•Implied distillate demand increased ~822kbpd WoW to ~5.29mmbpd, ~2% above year-ago3-wk moving avg.
•Crude adjustment factor was 637 kbpd, a decrease of 366kbpd WoW vs week-ago level of1,003 kbpd.
同公司研报
继续比较不同机构对同一公司的判断。
同行业近期研报
从单家公司继续回到行业研究。