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 1,855 MBBL last week to 457,142 MBBL, from 458,997 MBBL. This is 7% below the 489,029 MBBL that was in storage at this point last year, and is 14% above the five-year average. This week’s storage draw was in line with expectations, as the average analyst prediction called for a draw of 1,430 MBBL.
Gasoline inventories rose by 0.1 MMBBL this week, growing to 210.5 MMBBL. Fuel oil inventories rose to 125.0 MMBBL, from 124.8 MMBBL last week. Other refined product stocks rose to 467.1 MMBBL.
The four-week average total crude oil inputs to refineries rose to 16,449 MBOPD, up from 16,246 MBOPD. This means refineries are running at 90.0% of capacity. American refineries produced an average of 10,160 MBBLPD of gasoline and 5,200 MBBLPD of distillate fuel oil over the past four weeks.
