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 4,609 MBBL last week to 431,882 MBBL, from 436,491 MBBL. This is 11% below the 486,063 MBBL that was in storage at this point last year, and is 9% above the five-year average. This week’s storage draw was somewhat above expectations, as the average analyst prediction called for a draw of 3,844 MBBL.
Gasoline inventories rose by 0.6 MMBBL this week, growing to 228.4 MMBBL. Fuel oil inventories grew to 129.9 MMBBL, from 128.8 MMBBL last week. Other refined product stocks fell to 433.9 MMBBL.
The four-week average total crude oil inputs to refineries rose to 17,152 MBOPD, up from 17,053 MBOPD. This means refineries are running at 94.3% of capacity. American refineries produced an average of 10,050 MBBLPD of gasoline and 5,333 MBBLPD of distillate fuel oil over the past four weeks.
