US products supplied for the week ended March 17, 2017, totaled 19,225 Mbpd (thousand barrels per day), 1% less than in the previous week.
The average products supplied for the last four weeks was 19,528 Mbpd, 4% lower than 20,351 Mbpd during the same period last year.
Products supplied data provided by the EIA (U.S. Energy Information Administration) show the quantity of petroleum products supplied for domestic consumption. Products supplied include finished motor gasoline, kerosene-type jet fuel, distillate fuel, propane or propylene, and other oils. From these data, we gather implied oil demand.
It’s important to gauge gasoline demand. Of the total products supplied, 48% was finished motor gasoline, which is used in vehicles. A rise in total vehicle miles traveled causes the demand for gasoline to rise.
The average gasoline supplied in the last four weeks was 9,102 Mbpd, 505 Mbpd less—or 5% lower—than the supply recorded in the same period last year.
ISM manufacturing index
The ISM (Institute for Supply Management) manufacturing index, which is an indicator of US economic health, rose from 56 to 57.7 in February 2017. This reading its strongest in the last two years.
The United States, the world’s biggest economy, has shown strength in its manufacturing sector. Seasonal factors may have overstated the gains, but overall, a robust trend in manufacturing has been observed. Strength in the US economy may positively impact crude oil (DBO) demand.