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 1,854 MBBL last week to 458,997 MBBL, from 457,143 MBBL. This is 6% below the 490,284 MBBL that was in storage at this point last year, and is 15% above the five-year average. This week’s storage build was a surprise, as the average analyst prediction called for a draw of 1,797 MBBL.
Gasoline inventories rose by 0.9 MMBBL this week, growing to 210.4 MMBBL. Fuel oil inventories declined to 124.8 MMBBL, from 125.6 MMBBL last week. Other refined product stocks dropped to 465.6 MMBBL.
The four-week average total crude oil inputs to refineries rose to 16,246 MBOPD, up from 15,946 MBOPD. This means refineries are running at 89.1% of capacity. American refineries produced an average of 10,035 MBBLPD of gasoline and 5,065 MBBLPD of distillate fuel oil over the past four weeks.
