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 3,429 MBBL last week to 453,713 MBBL, from 457,142 MBBL. This is 7% below the 488,145 MBBL that was in storage at this point last year, and is 13% above the five-year average. This week’s storage draw was somewhat above expectations, as the average analyst prediction called for a draw of 2,485 MBBL.

Gasoline inventories rose by 3.6 MMBBL this week, growing to 214.1 MMBBL. Fuel oil inventories rose to 127.8 MMBBL, from 125.0 MMBBL last week. Other refined product stocks fell to 456.5 MMBBL.

The four-week average total crude oil inputs to refineries rose to 16,696 MBOPD, up from 16,449 MBOPD. This means refineries are running at 91.1% of capacity. American refineries produced an average of 10,168 MBBLPD of gasoline and 5,262 MBBLPD of distillate fuel oil over the past four weeks.


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