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 2,747 MBBL last week to 462,216 MBBL, from 464,963 MBBL. This is 2% below the 473,958 MBBL that was in storage at this point last year, and is 21% above the five-year average. This week’s storage draw aligned with expectations, as the average analyst prediction called for a draw of 2,042 MBBL.
Gasoline inventories rose by 2.5 MMBBL this week, growing to 221.4 MMBBL. Fuel oil inventories declined to 134.0 MMBBL, from 135.4 MMBBL last week. Other refined product stocks held steady at 475.1 MMBBL.
The four-week average total crude oil inputs to refineries rose to 15,908 MBOPD, up from 15,363 MBOPD. This means refineries are running at 87.3% of capacity. American refineries produced an average of 9,811 MBBLPD of gasoline and 4,769 MBBLPD of distillate fuel oil over the past four weeks.
