The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week.
Crude oil stocks fell by 5,117 MBBL last week to 442,986 MBBL, from 448,103 MBBL. This is 8% below the 483,193 MBBL that was in storage at this point last year, and is 12% above the five-year average. This week’s storage draw was above expectations, as the average analyst prediction called for a draw of 3,309 MBBL.
Gasoline inventories rose by 5.7 MMBBL this week, growing to 226.5 MMBBL. Fuel oil inventories fell to 128.1 MMBBL, from 129.4 MMBBL last week. Other refined product stocks fell to 449.4MMBBL.
The four-week average total crude oil inputs to refineries rose to 16,997 MBOPD, up from 16,919 MBOPD. This means refineries are running at 92.8% of capacity. American refineries produced an average of 10,135 MBBLPD of gasoline and 5,317 MBBLPD of distillate fuel oil over the past four weeks.
