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 5,296 MBBL last week to 396,194 MBBL from 401,490 MBBL. This is 15% below the 468,241 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s draw exceeded expectations, as the average analyst prediction called for a draw of 1,580 MBBL.

Gasoline inventories increased by 1.3 MMBBL this week to 235.9 MMBBL. Fuel oil inventories rose by 6.2 MMBBL to 139.3 MMBBL. Overall, petroleum stocks excluding the SPR increased by 10.1 MMBBL to 1,236.7 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 10,975 MBOPD, imported 7,577 MBOPD and exported 1,568 MBOPD.

The four-week average total crude oil inputs to refineries are 17,741 MBOPD. This means refineries are running at 97.1% of capacity. American refineries produced an average of 10,247 MBBLPD of gasoline and 5,395 MBBLPD of distillate fuel oil over the past four weeks.

Weekly Oil Storage: Further Draw

Weekly Oil Storage: Further Draw

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