The Energy Information Administration reported crude inventories rose by +8.4 million barrels in the week through January 22, bringing the total in storage to 494.9 million barrels, the highest on record. The build was helped along by refineries only operating at 87.4% of capacity due to maintenance season. Refiners used approximately 551,000 barrels per day less oil than the previous week, with inputs averaging just over 15.6 million barrels per day. The reduced refinery capacity did lead to a reduction of gasoline and distillate production, but total gas inventories still increased, rising by 3.5 million barrels. Distillates (which includes diesel fuel and heating oil) on the other hand saw stockpiles fall by 4.1 million barrels. Much of that drawdown is being equated to colder weather however, so the demand increase may be very short lived.