According to the Energy Information Administration (EIA), U.S. petroleum inventories (excluding SPR) built by 5.9 million barrels last week to 1.451 billion, whereas SPR stocks built by 1.4 million. Total stocks stand 163 mmb above the rising, rolling 5-year average and about 151 mmb higher than a year ago. Comparing total inventories to the pre-glut average (end-2014), stocks are 392 mmb above that average. {image}Production averaged 11.0 mmbd last week, up 500,000 b/d from the prior week, and 10.950 mmbd over the past 4 weeks, off 10.6 % v. a year ago. In the year-to-date, crude production averaged 12.311 mmbd, up ... (full story)