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 6,861 MBBL last week to 412,654 MBBL, from 419,515 MBBL. This is 15% below the 485,456 MBBL that was in storage at this point last year, and is 6% above the five-year average. This week’s storage draw was more than three times expectations, as the average analyst prediction called for a draw of 2,075 MBBL.

Gasoline inventories rose by 3.6 MMBBL this week, growing to 240.9 MMBBL. Fuel oil inventories decreased to 139.2 MMBBL, from 143.1 MMBBL last week. Other refined product stocks fell to 413.2 MMBBL.

The four-week average total crude oil inputs to refineries dropped to 17,301 MBOPD, down from 17,348 MBOPD. This means refineries are running at 95.2% of capacity. American refineries produced an average of 9,791 MBBLPD of gasoline and 5,359 MBBLPD of distillate fuel oil over the past four weeks.

 


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