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 6,218 MBBL last week to 435,955 MBBL, from 429,737 MBBL. This is 17% below the 527,772 MBBL that was in storage at this point last year, and is 2% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a build of 841 MBBL.
Gasoline inventories rose by 1.2 MMBBL this week, increasing to 238.0 MMBBL. Fuel oil inventories fell to 118.8 MMBBL, from 122.7 MMBBL last week. Overall, petroleum stocks excluding the SPR rose by 5.4 MMBBL to 1,187.7 MMBBL.
Preliminary data suggests over the past four weeks the U.S. produced 10,568 MBOPD, imported 8,400 MBOPD and exported 1,858 MBOPD.
The four-week average total crude oil inputs to refineries dropped to 16,788 MBOPD, from 16,881 MBOPD. This means refineries are running at 91.9% of capacity. American refineries produced an average of 10,071 MBBLPD of gasoline and 5,080 MBBLPD of distillate fuel oil over the past four weeks.
