U.S. gasoline inventories fall by 47.5 million barrels since February

Summary

U.S. gasoline inventories decreased by 47.5 million barrels from February to late May, reaching 211.6 million barrels. This decline is the largest for this period since 1990, despite strong refinery activity and modest demand growth. The U.S. is also exporting significantly more gasoline, contributing to the rapid drawdown of inventories.

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