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 1,895 MBBL last week to 420,254 MBBL, from 418,359 MBBL. This is 17% below the 508,592 MBBL that was in storage at this point last year, and is 4% above the five-year average. This week’s storage build was somewhat below expectations, as the average analyst prediction called for a build of 3,250 MBBL.
Gasoline inventories rose by 3.4 MMBBL this week, increasing to 254.5 MMBBL. Fuel oil inventories increased to 141.8 MMBBL, from 137.9 MMBBL last week. Other refined product stocks fell to 401.9 MMBBL.
The four-week average total crude oil inputs to refineries dropped to 16,542 MBOPD, down from 16,674 MBOPD. This means refineries are running at 91.1% of capacity. American refineries produced an average of 9,680 MBBLPD of gasoline and 4,911 MBBLPD of distillate fuel oil over the past four weeks.
