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 9,891 MBBL last week to 416,636 MBBL from 426,527 MBBL. This is 18% below the 509,213 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s draw vastly exceeded expectations, as the average analyst prediction called for a draw of 2,245 MBBL.

Weekly Oil Storage: Massive Draw

Gasoline inventories rose by 1.2 MMBBL this week to 241.2 MMBBL. Fuel oil inventories held flat at 117.4 MMBBL. Overall, petroleum stocks excluding the SPR fell by 4.6 MMBBL to 1,203.6 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 10,875 MBOPD, imported 8,261 MBOPD and exported 2,280 MBOPD.

The four-week average total crude oil inputs to refineries increased to 17,598 MBOPD, from 17,433 MBOPD. This means refineries are running at 96.3% of capacity. American refineries produced an average of 10,088 MBBLPD of gasoline and 5,325 MBBLPD of distillate fuel oil over the past four weeks.

Weekly Oil Storage: Massive Draw

Weekly Oil Storage: Massive Draw


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