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 4,948 MBBL last week to 419,515 MBBL, from 424,463 MBBL. This is 13% below the 483,109 MBBL that was in storage at this point last year, and is 8% above the five-year average. This week’s storage draw was somewhat above expectations, as the average analyst prediction called for a draw of 3,441 MBBL.
Gasoline inventories rose by 4.1 MMBBL this week, growing to 237.3 MMBBL. Fuel oil inventories grew to 143.1 MMBBL, from 138.8 MMBBL last week. Other refined product stocks fell to 419.8 MMBBL.
The four-week average total crude oil inputs to refineries rose to 17,348 MBOPD, up from 17,255 MBOPD. This means refineries are running at 95.6% of capacity. American refineries produced an average of 9,880 MBBLPD of gasoline and 5,391 MBBLPD of distillate fuel oil over the past four weeks.
