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 3,306 MBBL last week to 428,638 MBBL, from 425,332 MBBL. This is 20% below the 533,377 MBBL that was in storage at this point last year, and is 3% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 1,041 MBBL.
Gasoline inventories rose by 0.5 MMBBL this week, increasing to 238.9 MMBBL. Fuel oil inventories fell to 128.4 MMBBL, from 129.5 MMBBL last week. Other refined product stocks rose to 395.5 MMBBL.
The four-week average total crude oil inputs to refineries rose to 16,882 MBOPD, up from 16,719 MBOPD. This means refineries are running at 92.6% of capacity. American refineries produced an average of 10,125 MBBLPD of gasoline and 4,905 MBBLPD of distillate fuel oil over the past four weeks.
