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 rose by 2,072 MBBL last week to 436,584 MBBL from 434,512 MBBL. This is 15% below the 513,207 MBBL that was in storage at this point last year, and is marginally above the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 2,175 MBBL.
Gasoline inventories rose by 4.6 MMBBL this week to 239.0 MMBBL. Fuel oil inventories rose to 116.8 MMBBL, from 114.6 MMBBL last week. Overall, petroleum stocks excluding the SPR rose by 15.8 MMBBL to 1,209.8 MMBBL.
Preliminary data suggests over the past four weeks the U.S. produced 10,754 MBOPD, imported 7,934 MBOPD and exported 2,052 MBOPD.
The four-week average total crude oil inputs to refineries increased to 16,947 MBOPD, from 16,726 MBOPD. This means refineries are running at 93.1% of capacity. American refineries produced an average of 10,152 MBBLPD of gasoline and 5,147 MBBLPD of distillate fuel oil over the past four weeks.
