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 1,841 MBBL last week to 422,095 MBBL, from 420,254 MBBL. This is 19% below the 518,119 MBBL that was in storage at this point last year, and is 3% above the five-year average. This week’s storage build was below expectations, as the average analyst prediction called for a build of 2,748 MBBL.
Gasoline inventories rose by 3.6 MMBBL this week, increasing to 249.1 MMBBL. Fuel oil inventories decreased to 141.4 MMBBL, from 141.8 MMBBL last week. Other refined product stocks fell to 394.3 MMBBL.
The four-week average total crude oil inputs to refineries dropped to 16,364 MBOPD, down from 16,542 MBOPD. This means refineries are running at 90.3% of capacity. American refineries produced an average of 9,651 MBBLPD of gasoline and 4,845 MBBLPD of distillate fuel oil over the past four weeks.
