BIG OIL 1Q EARNINGS SEASON: Exxon Mobil disappoints as downstream hurts profitability in the first quarter (plus several non-cash accounting items). $XOM reports adj net income of $8.2 billion, down from $11.6 billion a year earlier. #OOTT Link: investor.exxonmobil.com/news-events/press-releases/detail/1162/exxonmobil-announces-first-quarter-2024-results

CHART OF THE DAY: American total oil exports (crude and refined products, on a gross basis) surged last week pass the 12 million barrels per day level | #OOTT #ShaleRevolution #Permian #Texas pic.twitter.com/aKvqfL2f2G

The national average is holding near its high water mark of $3.67/gal thanks to some price cycling in the Great Lakes, while oil remains in somewhat of a holding pattern in the low-$80s. Expecting #gasprices to move a bit sideways over the next few days.

EIA data, week ending 4/19 Crude oil: -6.4M Domestic prod: 13.1MMbpd SPR: +0.8M Cushing: -0.6M Gasoline: -0.6M Impld mogas demand: 8.42Mbpd Distillates: +1.6M Refiner utilz: 88.5% Total exports: 12.1MMbpd GasBuddy mogas demand: 8.82Mbpd (wk ending 4/20) #oil #OOTT #gasbuddy #eia