According to a weekly update by the Energy Information Administration, US refineries produced 363,000 more barrels per day during the week of May 12 than in the previous week (averaging over 17.1 million barrels per day). Gasoline production decreased, with an average of 10 million barrels produced per day, while distillated fuel production increased to an average of over 5 million barrels per day. Inventories of crude oil fell 1.8 million barrels during the week of May 12 to 520.8 million barrels. This makes the sixth consecutive weekly drawdown. Refined product inventories also decreased, with gasoline down 400,000 barrels to 240.7 million, and distillated fuels down 1.9 million barrels to 146.8 million. West Texas Intermediate Crude futures prices jumped 70 cents to $49.30 per barrel after the release of the report. The EIA report was inconsistent with a report by the American Petroleum Institute that indicated stocks of crude had *increased* by 882,000 barrels.