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 7,238 MBBL last week to 449,521 MBBL from 442,283 MBBL. This is 6% above the 425,332 MBBL that was in storage at this point last year, and is even with the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 591 MBBL.

Gasoline inventories decreased by 1.8 MMBBL this week to 236.8 MMBBL. Fuel oil inventories fell by 2.0 MMBBL to 128.2 MMBBL. Overall, petroleum stocks excluding the SPR increased by 7.2 MMBBL to 1,229.1 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 12,100 MBOPD, imported 6,745 MBOPD and exported 2,887 MBOPD.

The four-week average total crude oil inputs to refineries are 15,975 MBOPD. This means refineries are running at 87.4% of capacity. American refineries produced an average of 9,783 MBBLPD of gasoline and 4,894 MBBLPD of distillate fuel oil over the past four weeks.

By Richard Rostad, analyst, Oil & Gas 360

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