Weekly oil supply/demand roundup - crude up ~$2.50 from last Friday's close
This week's DOE inventory updated showed oil and oil product stocks largely unchanged week on week (USO).
TSA checkpoint data pointed to falling passenger volumes, down ~2% week on week and ~10% below 2019 levels (JETS).
Pandemic-related lockdowns in China extended beyond Shanghai, to include parts of Beijing and other regions in the country.

The Baker Hughes (BKR) oil directed rig count rose by three rigs on the week.
A release by the Department of Energy showed US oil production in February down for the third month in a row, and 450kb/d below November 2021 levels (XLE).
Russia's state news reported that production had fallen by ~1mb/d from March levels, and the Kremlin indicated that production could fall by ~1.8mb/d in 2022.
Pioneer (PXD) pre-released details of Q1 earnings, and guided to lower Q2 production, on the back of frac-sand supply challenges.
Hess (HES) reported Q1 results and guided to lower Q2 production in the US, on the back of blizzard-related challenges in North Dakota.
Imperial (IMO) reported Q1 results and flagged a major outage during the quarter at Kearl, the mine has since returned to normal production levels.
Chevron (CVX) reported and raised Permian production guidance from +10% on the year to +15%; though company-wide production was guided lower for Q2.
Continental (CLR) pre-released details of Q1 earnings, and increased production guidance by 5% for 2022, or +10kb/d from prior estimates.
Valero (VLO), PBF (PBF) and Phillips (PSX) all reported Q1 earnings, citing sustained strong oil product demand in the face of elevated prices.
Refined product prices in the Northeast shattered records, as diesel prices at the pump made an all-time high nationwide this week.
Total (TTE) reported earnings, with the CEO indicating that Russian diesel exports have already been impacted by self-sanctioning.
Exxon (XOM) declared force majeure on Russia's Sakhalin-1 project, though the project is known for producing LNG feedstocks, the field also has capacity to process ~250kb/d of oil; unclear if the force majeure and Exxon (XOM) exit will impact liquids supplies.
A blizzard in North Dakota knocked ~600kb/d of production offline.