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 5,888 MBBL last week to 468,241 MBBL, up from 462,353 MBBL last week. This is 2% below the 480,166 MBBL that was in storage at this point last year, but remains 23% above the five-year average. This week’s storage build exceeded expectations, which predicted an increase of 4,392 MBBL.

Weekly Oil Storage: Oil Builds, Gasoline Falls

Source: EnerCom Analytics

Gasoline inventories fell by 8.4 MBBL this week, dropping to 218.3 MBBL. This is the largest single week decline since at least 1990, when the EIA began tracking U.S. gasoline supplies. Fuel oil inventories declined to 144.6 MBBL, from 147.8 MBBL last week. Other refined product stocks increased to 481.1 MMBBL from 473.6 MMBBL.

The four week average total crude oil inputs to refineries fell to 15,934 MBOPD, down from 16,806 MBOPD. This means refineries are running at 77.7% of capacity, down from 79.7% last week. American refineries produced an average of 10,143 MBBLPD of gasoline and 4,653 MBBLPD of distillate fuel oil over the past four weeks.

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