For the week ending Feb 21, we have a crude draw of 3.63 million bbls. This week's crude draw is fueled by 1) higher US crude exports and 2) lower US crude oil production due to colder-than-normal weather.
The freeze-off is milder than normal as we saw in the natural gas production data. Roughly only ~5 Bcf/d were lost, which translates into ~500k b/d of production lost.
For total liquids, we expect this week to show a draw close to ~10 million bbls.
Looking at our US crude storage forecast, this is what we see: