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 rose by 4,580 MBBL last week to 462,353 MBBL, up from 457,773 MBBL last week. This is 4% below the 480,725 MBBL that was in storage at this point last year, but remains 22% above the five year average. This week’s storage build exceeded expectations, which predicted an increase of 3,673 MBBL.

Weekly Oil Storage: Harvey Causes Build

Source: EnerCom Analytics

Gasoline inventories fell by 3.2 MBBL this week, dropping to 226.7 MBBL. Fuel oil inventories declined to 147.8 MBBL, from 149.2 MBBL last week. Other refined product stocks increased to 473.6 MMBBL from 466.5MBBL.

The four week average total crude oil inputs to refineries fell to 16,806 MBOPD, down from 17,581 MBOPD. Hurricane Harvey decreased Gulf Coast refinery crude oil inputs by one third, from 9,293 MBOPD last week to 6,026 MBOPD. This means refineries are running at 79.7% of capacity, down from 96.6% last week. American refineries produced an average of 10,183 MBBLPD of gasoline and 4,981 MBBLPD of distillate fuel oil over the past four weeks.


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