Oil Stocks Crashing as Fuel Consumption Flatlines

Shares of a broad array of oil stocks are falling sharply today, following the latest weekly petroleum data survey from the U.S. Energy Information Administration. According to the latest update, U.S. refinery production slipped almost 1 million barrels per day, while gasoline consumption, as measured by the amount refiners supplied to the market, remain stuck in a narrow band that's down about 9 million barrels per day from last year. At this writing, shares of Matador Resources (NYSE: MTDR), Antero Resources (NYSE: AR), Range Resources (NYSE: RRC), and Southwestern Energy (NYSE: SWN) are down between 5.3% and 8% (even though they are more focused on natural gas than oil).