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 2,057 MBBL last week to 394,137 MBBL from 396,194 MBBL. This is 17% below the 472,832 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s draw was in line with expectations, as the average analyst prediction called for a draw of 2,616 MBBL.

Gasoline inventories decreased by 1.7 MMBBL this week to 234.2 MMBBL. Fuel oil inventories rose by 0.8 MMBBL to 140.1 MMBBL. Overall, petroleum stocks excluding the SPR decreased by 0.4 MMBBL to 1,236.3 MMBBL.

Preliminary data suggests over the past four weeks the U.S. produced 10,975 MBOPD, imported 7,704 MBOPD and exported 1,871 MBOPD.

The four-week average total crude oil inputs to refineries are 17,621 MBOPD. This means refineries are running at 96.5% of capacity. American refineries produced an average of 10,276 MBBLPD of gasoline and 5,403 MBBLPD of distillate fuel oil over the past four weeks.


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