Weekly oil supply/demand roundup - crude down ~$1.8 from last Friday's close
This week's DOE inventory update showed a larger than expected 12.6mb draw in oil and oil products (NYSEARCA:USO).
TSA checkpoint numbers pointed to a ~13% increase in traffic week on week.
UAE Energy minister said oil's price rise was attributable to geopolitics, indicating the Cartel would not be accelerating production increases.

A draft Iran agreement pointed to a requirement for Tehran to reign in their nuclear enrichment program before oil-related sanctions would be waived.
Continental (NYSE:CLR) reported earnings and guided to 3% organic production growth in 2022 and low-single digit growth through 2025.
Devon (NYSE:DVN) reported earnings and guided to 2022 production volumes ~4% below Q4 2021 levels.
Pioneer (NYSE:PXD) reported earnings and guided to 2022 production volumes ~8% below Q4 2021 levels.
Marathon (NYSE:MRO) reported earnings and guided to 2022 production volumes ~1% below Q4 2021 levels.
Magnolia (NYSE:MGY) reported earnings and guided to 2022 production volumes up "high single digits" versus 2021 levels.
Both Pioneer and Devon CEOs eluded to Permian production growth from the supermajors (NYSE:CVX)
(NYSE:XOM) being driven by a draw down of drilled but uncompleted wells "DUCs".
The DOE's drilling productivity report showed DUCs falling to a near decade low, as producers work through excess well inventory.
Baker Hughes (NASDAQ:BKR) rig count released Friday showed oil-directed rigs higher by 4 this week.